- Region: Europe
- Infrastructures
- Environment
- Others
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The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed today a Memorandum of Understanding (MOU) with the Black Sea Trade and Development Bank (BSTDB; President: Dr. Serhat Köksal) to enhance cooperation between the two organizations, taking the opportunity of the Japan-Ukraine Conference for Promotion of Economic Reconstruction in Tokyo, Japan.
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BSTDB is an international financial institution established to support economic development and promote cooperation among the member countries surrounding the Black Sea*1. BSTDB has a track record of supporting projects in member countries, including Ukraine, in such sectors as power generation and transport and has expressed its willingness to step in alongside other public institutions to support Ukraine’s reconstruction and rehabilitation.
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The MOU aims to strengthen the cooperative relationship between the parties to facilitate business activities that contribute toward the reconstruction of Ukraine as well as to promote structuring projects in such fields as agriculture, food, transport and logistics for exports, digital infrastructure, and medicine in Ukraine and its neighbors, and projects that contribute toward the mitigation of climate change, such as renewable energy projects in member countries. The MOU is also aimed at building consensus for a two-step loan in which JBIC will provide to BSTDB up to USD150 million with a view to collaborating in the aforementioned areas.
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JBIC is working on providing assistance to Ukraine and its neighboring nations, such as by cooperating with G7 countries and international institutions in the establishment of the EBRD-G7 DFI-EDFI Ukraine Investment Platform*2. As Japan's policy-based financial institution, JBIC will continue to assist with the reconstruction of Ukraine in collaboration with international financial institutions.
Note
- *1
As of February 19, 2024, it consists of 11 member countries.
- *2