Japan Bank for International Cooperation ( JBIC ) and ING Bank ( Tokyo Branch ) have signed export loan agreements with Turkish port operator Yilport Holding.

Proceeds of the loans, including US$30 million from JBIC and US$20 million from ING Bank, will be used by Yilport Puerto Bolivar in Ecuador to buy 24 port container cranes from Mitsui E&S.

Nippon Export and Investment Insurance ( Nexi ) is providing the insurance for the ING loan.

Yilport is one of the world's biggest terminal operators, with a presence in the Mediterranean region, Northern Europe, the Iberian Peninsula, Central and South America, and Africa.

According to JBIC, the loan will support exports by Japanese companies and strengthen the international competitiveness of Japanese industries.

Last year, JBIC signed a memorandum of understanding ( MOU ) with Mitsui E&S and Yilport that aims to support port development using the port container cranes of Mitsui E&S. Yilport plans to expand its port operations business in various parts of the world, including Ecuador and Ghana.

Last December, JBIC and ING provided a US$32 million buyer's credit to Yilport, for Liscont-Operadores De Contentores, a Portuguese subsidiary of Yılport, to procure an additional four port container cranes from Mitsui E&S for the Liscont Terminal in Lisbon, Portugal. Nexi provided insurance for the commercial bank portion.