Japan’s export credit agency to lend $2 billion to Nissan for US sales financing

Japan’s export credit agency to lend $2 billion to Nissan for US sales financing

Japan's export credit agency to lend $2 billion to Nissan for US sales financing

Japan's export credit agency to lend $2 billion to Nissan for US sales financing

Nissan, Japan's third-largest automaker, is focusing on key markets as it pulls back from the rapid expansion led by ousted Chairman Carlos Ghosn. (Reuters)

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Japan's export credit agency to lend $2 billion to Nissan for US sales financing

The money should help the Japanese company sell cars in the world's second-biggest automarket after China

Updated 26 November 2020

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TOKYO: 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