Republic of Turkey／Loan insurance to Yapı Kredi
Nippon Export and Investment Insurance
Nippon Export and Investment Insurance (NEXI; Chairman and CEO: Atsuo Kuroda) has decided to provide insurance for a loan made to Yapı Kredi in the Republic of Turkey.
The loan is intended to support Kastamonu Entegre Ağac Sanayi ve Ticaret A.Ş. Group, a Turkish manufacturer and vendor of wood based panel products doing business in and outside of the country, to purchase a bulk carrier built by Oshima Shipbuilding Co., Ltd. through Sumisho Marine Co., Ltd. It will be extended in the form of co-financing by ING Bank N.V., Tokyo Branch (ING Bank) and Japan Bank for International Cooperation (JBIC). NEXI will underwrite insurance for the loan offered by ING Bank.
This project is in line with the Japanese government’s Infrastructure System Overseas Promotion Strategy 2025, which identifies the promotion of the export of Japanese-built ships as one of its objectives. NEXI will continue to actively support exports by Japanese companies as a financial institution to implement national policies in Japan.
| Insured | ING Bank N.V., Tokyo Branch |
| Insured amount | Approx. EUR 13 million |
| Tenor | Approx. 10 years |
| Covered risks | Political risk 100％, Commercial risk 95％ |
Contact: Infrastructure Group, Structured and Trade Finance Insurance Department
Tel: +81-3-3512-7674