JBIC and Maybank boost ASEAN businesses

In a bid to support Japanese affiliates overseas, the Japan Bank for International Cooperation (JBIC) has signed a letter of intent with Malaysia-based Malayan Banking Berhad (Maybank).

As well as ensuring closer coordination between JBIC and the Maybank group, the letter will help to secure effective financing in the ASEAN region with a US$200mn untied direct loan from JBIC, which was signed in late March.

The loan will be used to provide financing for Japanese businesses and affiliates working in the ASEAN region.

In a statement, JBIC says: “JBIC is committed to making effective efforts to support overseas business activities of Japanese industries by drawing on its wide range of financial instruments and programmes.”