NEXI Approves Export Credit Line for Banco de la Nación Argentina

Nippon Export and Investment Insurance (NEXI：Chairman and CEO: Kazuhiko Bando) has approved an export credit line for Banco de la Nación Argentina (hereinafter “BNA”).

NEXI will cover the co-financing portion (up to USD 24 million) provided by a private bank, which is a part of the export credit line (up to USD 60 million) set up between the Japan Bank for International Cooperation (JBIC) and BNA on November 29, 2018. On the same date, the Letter Agreement was signed by NEXI and BNA, matching that with a G20 Summit held from November 30 to December 1 in Buenos Aires, the Republic of Argentina (“Argentina”).

BNA, being Argentina’s national bank wholly government-owned with the country’s largest amount of deposit and outstanding loan balance, its primary services include providing industrial financing for SMEs and agricultural sector in line with the government’s industrial promotion measures.

Mr. Shinzo Abe, Prime Minister of Japan mentioned about this credit line in his speech at the bilateral ceremony held in Buenos Aires after the G20 summit, for celebration of the 120th anniversary of Japan-Argentina diplomatic relations.

NEXI is aiming to promote exports and investments of Japanese companies in Argentina, by providing financing through BNA to Argentina enterprises purchasing products and services from Japanese companies or its overseas subsidiaries. This is the first time for NEXI to establish a credit line that covers not only exports of Japanese companies but also products and services of its overseas subsidiaries.

As Japan’s export credit agency, NEXI will continue to actively support Japanese companies and their overseas subsidiaries expanding business in Argentina.

Contact: Infrastructure Group, Structured and Trade Finance Insurance Dept.
Tel: +81-(0)3-3512-7674