NEXI holds workshop on Overseas Business Cooperation between Japan and Türkiye, and decides to provide insurance for loans for Calik Enerji

Nippon Export and Investment Insurance (NEXI; Chairman and CEO: Atsuo Kuroda) held workshop on Overseas Business Cooperation between Japan and Türkiye in Istanbul, Türkiye on May 16th.

With the cooperation of the Embassy of Japan in Türkiye, JETRO and other related organizations, this workshop was attended by many Turkish companies and Japanese companies in Türkiye, as we celebrate the 100th anniversary of diplomatic relations between Japan and Türkiye.

At this workshop, the loan agreement and the Side Letter related to the "Loan to Türk Eximbank¹" and the "LEAD Facility to Calik Enerji" based on the LEAD Initiative were unveiled, witnessed by the Japanese Ambassador and Consul General to Türkiye. In addition, NEXI's trade insurance products and projects utilizing the LEAD Initiative were introduced with the aim of developing overseas business in Central Asia, the Middle East, Europe, and other regions.

The "LEAD Facility to Calik Enerji" is the project that NEXI has decided to undertake insurance for Deutsche　Bank AG, Tokyo Branch’s loan to Calik Enerji, an energy infrastructure company in which Mitsubishi Corporation (MC) invests. This project is based on a Memorandum of Cooperation² (MOC) between NEXI, Calik, and MC. NEXI will provide loan insurance for a loan facility established by Deutsche Bank AG, Tokyo Branch with the aim of strengthening the tripartite partnership and collaboration that contribute to the national interests of Türkiye and Japan, as part of the LEAD Initiative³, and this project is the second project which provides support to foreign private company under the LEAD Initiative since establishment of it. The loan will be used for business development expenses for the renewable energy, DX business development, and newly introduced energy resources such as hydrogen and ammonia.

(From left: Mr.Orhan, CCO Istanbul of Deutsche Bank, Mr Onur, CEO of Calik Enerji, Mr. Kuroda, Chairman and CEO of NEXI)

This is the second project under the SEED Scheme⁴, and the workshop is the first event held under the scheme.

Through advancing NEXI’s LEAD initiative and by establishing partnerships with foreign governments and companies, NEXI will continue to actively support Japanese companies to expand their global business to combat global warming and improve industrial competitiveness as the Japanese financial institution to implement national policies.

Reference

Insured	Deutsche Bank AG, Tokyo Branch
Covered risks	Political risk 100%, Commercial risk 90%

＜Overview of Calik＞
Calik Enerji is a leading diversified energy company engaged in engineering, procurement and construction of energy generation and infrastructure projects, electricity distribution & retail and renewable energy generation investment businesses across Türkiye, Central Asia, Middle East, Africa and Eastern Europe regions.

＜Overview of MC＞
Mitsubishi Corporation (MC) is a global integrated business enterprise that develops and operates businesses together with its global network of around 1,800 group companies. MC has eight Business Groups that operate across virtually every industry: Environmental Energy, Materials Solution, Mineral Resources, Urban Development & Infrastructure, Mobility, Food Industry, Smart-Life Creation and Power Solution.

Contact:
Power Group
Structured and Trade Finance Insurance Department
Tel: #81-(0)3-3512-7340

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