JBIC Extends Buyer's Credits to the Federative Republic of Brazil -- Loans to update medical equipment and education--
1. Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Yasuda) signed two loan agreements totaling 15.7 billion yen with the Federative Republic of Brazil for the "Hospital Re-equipment Project" and the "Education/Medical Program." The signing took place at the JBIC's head office in Tokyo between JBIC Governor Hiroshi Yasuda, and His Excellency Jose Serra, Minister of Health, and Mr. Jorge Fagali Neto, Director, Ministry of Education. The loan commitment for " Hospital Re-equipment Project", which will be executed by Brazil's Ministry of Health, totals 7.3 billion yen and is cofinanced with The Dai-Ichi Kangyo Bank, Limited, The Industrial Bank of Japan, Limited, The Fuji Bank, Limited, The Sumitomo Bank, Limited and Shinkin Central Bank, with JBIC assuming a 60% share of the total, or some 4.4 billion yen. The loan for the "Education/Medical Program," for which the Ministry of Education is responsible, totals 8.4 billion yen and is solely financed by JBIC.
2. In Brazil, national hospitals, university hospitals and other medical facilities face a serious problem of superannuated medical equipment and a shortage of medical equipment. Introduction of up-to-date medical equipment therefore is urgently needed to improve the country's medical services. Under these circumstances, the Brazilian government decided to undertake this project and program. The objectives of the project and program are to replace or update worn out medical equipment in 50 national hospitals across the nation that are under control of the Ministry of Health; and to modernize medical equipment as well as upgrade educational and research medical equipment in 52 federal universities and 47 university hospitals under the jurisdiction of the Ministry of Education.
3. JBIC's loans will finance the procurement of a variety of medical equipment from Japanese exporters (Nissho Iwai Corp., Marubeni Corp. and Sumitomo Corp. and manufacturers Toshiba Corporation, Olympus Optical Co., Ltd., and Fuji Photo Optical Co., Ltd), which are necessary for Brazil to implement the project and program.
4. The loans will promote exports to Brazil by the Japanese manufacturers who have state-of-the-art technology including CT scanners, Radiodiagnostic, Ultrasonograph, and X-Ray Diagnosis. This will contribute to the improvement of medical services and medical educational standards in Brazil.