Question : For which purpose JBIC agreed to provide $1000 million to SBI ?
(a) For the manufacturing and sales business of suppliers and dealers of Japanese automobile manufacturers
(b) For the suppliers of Japanese electrical equipment manufacturers
(c) For setting up an aerodrome in Ladakh
(d) None of the above
Answer (a)
Related facts
Japan Bank for International Co-operation has recently(October 2020) agreed to provide USD1000 million to SBI.
The loan scheme is as follows :-
| Amount | Provider |
| USD600 million | JBIC |
| USD400 million | Co-financed by the private financial institutions under JBIC guarantee |
- This loan is intended to provide, through SBI, the funds necessary for the manufacturing and sales business of suppliers and dealers of Japanese automobile manufacturers as well as for the provision of auto loans for the purchase of Japanese automobiles.
- Indian auto industry & Lockdown scenario
- Auto industry recovering from a sharp fall in production and sales during the lockdown to post a 26.45% growth in passenger vehicle sales in September.
- Country’s automobile market was ranked fifth largest globally in 2019.
Japanese manufacturers was the dominant service provider of the automobile market.
JBIC
- Japan Bank for International Co-operation is a Japanese Government policy-based financial institution.
By — Pankaj Pandey.
Link:
https://www.jbic.go.jp/en/information/press/press-2020/1028-013919.html
https://economictimes.indiatimes.com/news/economy/finance/jbic-signs-loan-agreements-totaling-rs-11000-crore-to-support-indian-industry/articleshow/78928228.cms