Japan Bank for International Cooperation (JBIC) has signed a loan agreement on buyer’s credit totalling ¥7bn with Enka Pazarlama Ihracat Ithalat, a Turkish corporation. The loan is co-financed with ABN AMRO, Tokyo branch.
Enka Pazarlama imports and sells industrial machinery such as construction machinery, to meet its financial need for continued purchase of industrial machinery from Japanese firms. JBIC set up a credit facility totalling ¥7bn for Enka Pazarlama in September 2005. This latest loan is a succeeding credit line.
Turkey’s trade volume of both exports and imports registered a record volume in 2005, and its trade volume to Japan also increased greatly. Under these circumstances, the first credit line JBIC set up for Enka Pazarlama in September 2005 has been smoothly utilised; therefore, JBIC was requested for additional credit facility by Enka Pazarlrama, claims the ECA.
In response to this request, JBIC has decided on the credit facility to Enka Pazarlama, a close trading partner of Japanese firms, to help secure chances for Japanese firms to receive export orders of a variety of industrial machinery such as construction machinery.
Through these efforts, JBIC will continue to support Japanese companies in expanding business opportunities in Turkey over the coming years.