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Japan's export credit agency to lend $2 billion to Nissan for U.S. sales financing

Added 11-26-20 01:04:02am EST - “Japan's state-owned export credit agency has agreed to give Nissan Motor Co up to $2 billion as part of a credit agreement to help it finance car sales in the United States. The money is part of a $4.1 billion credit agreement for…” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “Japan's export credit agency to lend $2 billion to Nissan for U.S. sales financing”. Below is an excerpt from the article.

TOKYO (Reuters) - Japan's state-owned export credit agency has agreed to give Nissan Motor Co up to $2 billion as part of a credit agreement to help it finance car sales in the United States.

The money is part of a $4.1 billion credit agreement for Nissan Motor Acceptance Corporation, a unit of Nissan North America, Japan Bank of International Cooperation (JBIC) said in a press release on Wednesday.

The money should help the Japanese company sell cars in the world's second-biggest automarket after China by allowing it to provide customers with loans that they can repay in monthly instalments, the export credit agency added in the statement.

The United States "is an important market for Japanese automobile manufacturers. Sales finance has become an important tool in business strategy", JBIC said.

"This case provides financial support for Nissan's overseas business development," it added.

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