JBIC Signs MOC with the Washington State Government, the U.S.
Supporting Development of Japanese Companies' Businesses in Washington State
- Area: North America
The Japan Bank for International Cooperation (JBIC; Governor: Akira Kondoh) signed on August 2 a Memorandum of Cooperation (MOC) with the Washington State Government, the United States of America (the U.S.) with the aim of contributing to the sustainable economic development of Washington State through supporting projects related to Washington State in sectors such as infrastructure.
The conclusion of the MOC is intended to establish a business cooperation relationship between JBIC and the Washington State Government for the purpose of further promoting business development through investments by Japanese companies in projects, including infrastructure projects, associated with Washington State.
State governments, together with the Federal Government, play an important role in the improvement of infrastructure in the U.S. The Washington State has seen higher growth than other states in its economy and population, and numerous infrastructure projects are being planned in Washington State in response to this situation. Furthermore, being located on the Pacific coast, Washington State is very important in terms of logistics connecting the inland areas of the U.S. with the Asia-Pacific region, including Japan, and many Japanese companies are operating businesses in Washington State. Under these circumstances, further opportunities for promoting the business activities of Japanese companies in the Washington State are expected through this MOC between JBIC and the Washington State Government.
As Japan's policy-based financial institution, JBIC will financially support the maintaining and strengthening of the international competitiveness of Japanese industries by helping Japanese companies participate in projects, in sectors such as infrastructure, associated with the Washington State. At the same time, JBIC will contribute to further deepening and developing the economic relationship between Japan and the Washington State.