Банкеръ Weekly

Briefs

A JAPANESE BANK IS STUDYING THE GROUNDS FOR INVESTMENTS

On May 9, 2001 a delegation of the Japanese Bank for International Cooperation visited some Bulgarian governmental institutions hoping to find out what are the possibilities for hi tech development in Bulgaria. After one of the meetings Hiroshi Tamura, delegation leader and Director of International Finances Division of the bank, answered questions of the Banker weekly reporter:

Do you have any specific plans for investing in Bulgaria?
- We are at a very preliminary stage of fact-finding, so no there are no specific plans for any potential investment.
The government of Bulgaria has been contacting us enthusiastically about our potential to invest. This was a very positive approach on its behalf. So we have decided to visit the country as part of a very preliminary fact finding mission.

What financing would you provide for hi tech development in Eastern Europe?
- No concrete figures can be given but the total Japaneese government initiative is for USD15BN over a 5-year period. That amount, however, is for the developing countries and the transitional economies world-wide. The decision for launching that amount was made last July in Okinawa by the Japanese government. In implementing it no specific japanese banks are involved at this point.

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