Mongolia/Export of Construction Machinery Manufactured by Komatsu Ltd. (Loan Insurance for Mongolia Using Export Credit Line）
Nippon Export and Investment Insurance
Nippon Export and Investment Insurance (NEXI; Chairman and CEO:Atsuo Kuroda) has decided to provide insurance on a loan made to Erdenes Mongol LLC, entities of the State of Mongolia, for the purchase of construction machinery manufactured by Komatsu Ltd. from Sumitomo Corporation.
The loan will be provided in the form of co-financing (in the total amount of approx. JPY 1,3 billion.) by MUFG Bank, Ltd. (MUFG Bank) and Japan Bank for International Cooperation (JBIC), and will mark the fifth case to use the export credit line*1*2*3 set up for the Government of Mongolia in Jun 2013. NEXI will provide insurance for the portion of the loan offered by MUFG Bank (approx. JPY 682 million).
NEXI as the official export credit agency in Japan will continue to actively support exports from Japanese companies.
| Insured | MUFG Bank, Ltd. |
| Insured Value | Approx. JPY 682 million |
| Covered Risks | Political Risk 100％, Commercial Risk 100％ |
Contact:
Infrastructure Group
Structured and Trade Finance Insurance Department
Tel: +81-3-3512-7674
- *1 Export credit line is a form of export financing in which a certain amount of credit limit is set up to promote export of Japanese goods and equipment.
- *2 The export credit line used for this transaction was established under a general agreement signed between JBIC and the Government of Mongolia on June 6, 2013.
- *3 For previous transactions using this export credit line, please see:
1st transaction - News Release dated June 12, 2015
2nd transaction - News Release dated October 13, 2016
3rd transaction - News Release dated May 31, 2017
4th transaction – News Release dated July 26, 2017