On behalf of the Japan Bank for International Cooperation (JBIC), I would like to express my sincerest appreciation for your support for and understanding of JBIC.
The world economy is reaching a dramatic inflection point as underscored by such developments as worsening frictions that include U.S.-China trade issues in addition to the United Kingdom's withdrawal from the EU and the rise of a regional system centered on Germany in Europe. Particularly noteworthy, China seems to be promoting a diplomatic strategy aimed at reconfiguring the post-war regime and its discordance with the international community is further intensifying.
Meanwhile, the transformation of the industrial structure and the restructuring of supply chains are rapidly gaining momentum amid the advance of innovation spurred by the Fourth Industrial Revolution as exemplified by the Internet of Things (IoT) and Artificial Intelligence (AI) and the trend toward emphasis on Environment, Social, Governance (ESG) criteria.
As we approach this major turning point, JBIC will provide proactive and prompt support as a policy-based financial institution that will enable Japan to continue playing a key role throughout the world.
In the JBIC Third Medium-term Business Plan (FY2018–FY2020), our key priority is to provide support that contributes to "Growth areas, new fields," "Overseas infrastructure development," "Global environmental preservation," and "M&As." In January 2020, JBIC revised and incorporated the Global Facility to Promote Quality Infrastructure Investment for Environmental Preservation and Sustainable Growth (QI-ESG) (instituted in July 2018) into the Growth Investment Facility. Together with subsidiary JBIC IG Partners, JBIC will further support high-quality infrastructure development that encompasses assisting Japanese companies with overseas M&As and global value chain restructuring while providing wide-ranging support for the overseas business expansion of Japanese companies that include mid-tier enterprises and small and medium-sized enterprises (SMEs) and start-up companies.
Since the start of 2020, the spread of COVID-19 has caused the global economy to stagnate significantly and has also dealt a devastating blow to the Japanese economy. To support the overseas business of Japanese companies amid this challenging environment, JBIC established on April 30, 2020 the Emergency Window for Overcoming the COVID-19 Crisis (COVID-19 Emergency Window) under the Growth Investment Facility.
At present, it is still uncertain when COVID-19 will subside. Looking ahead to the era of "coexisting with COVID-19 in a post-pandemic world," JBIC will work to strengthen ties with Japanese and foreign public and private financial institutions, government agencies of each country and international organizations; sophisticate its organizations and operations; strengthen governance; and improve human resources, information, and policy proposal capabilities. In doing so, JBIC will continue to meet the expectations of Japanese industrial and financial communities.
As we work toward these goals, I look forward to your continued support.
Governor, Japan Bank for International Cooperation (JBIC)