Republic of Ecuador / Export of Japanese-Style Terrestrial Digital Broadcasting Equipment (Loan Insurance for the State-Run Broadcasting Company in Ecuador by Using an Export Credit Line)
Nippon Export and Investment Insurance
Nippon Export and Investment Insurance (NEXI) has decided to provide insurance on a loan made to Empresa Publica Medios Publicos de Comunicacion del Ecuador Medios Publicos E.P., the state-run broadcasting company in Republic of Ecuador (Ecuador), for its purchase of Japanese-style terrestrial digital broadcasting equipment from Hitachi Kokusai Electric Inc.
The loan will be provided in the form of co-financing (in the total amount of approx. USD16 mil.) from a private bank, i.e., Citibank, and JBIC by using export credit line lending*1 *2 set up for the Government of Ecuador in March 2014.
NEXI will provide insurance for the portion of the loan offered by Citibank (approx. USD 6.4 mil.)
NEXI as the official export credit agency in Japan will continue to actively support exports from Japanese companies.
|Insured||Citybank, N.A., Tokyo Branch|
|Insured Value||Approx. USD 6.4 million|
|Covered risks||Political Risk 100%, Commercial Risk 95%
(with Sovereign Special Clause)
Structured and Trade Finance Insurance Department
*1. Export credit line is a form of export financing in which a certain amount of credit limit is established to promote export of Japanese goods and equipment.
*2. Export credit line concerning this case was set up on March 24, 2014.