Establishing Leading Investment to Future Environment(LIFE) Initiative

Following the announcement by Japan’s Minister of Finance and Minister of State for Financial Services and Economic and Fiscal Policy, Kaoru Yosano of the Leading Investment to Future Environment Initiative (LIFE Initiative) on March 14, 2009 (U.K. time), Japan Bank for International Cooperation (JBIC) will support targeted projects under the LIFE Initiative.

The LIFE Initiative will support environmental investments which are in line with the principle announced in the G7 Communiqué at Rome, February 2009, that fiscal policy measures should be “frontloaded and quickly executed” in response to the ongoing and severe global economic downturn, and which address long-term goals in infrastructure sectors in developing countries.

JBIC will consider providing financial support totaling approximately US$5 billion over the period of about two years for environmental investments made by the developing country governments as well as by the private sector in Asia and other developing countries. JBIC will also utilize the JBIC Facility for Asia Cooperation and Environment (FACE) established in April, 2008. JBIC will co-operate with Multilateral Development Banks (MDBs) such as Asian Development Bank (ADB) and the World Bank Group for this purpose. At the same time, JBIC will strive to mobilize private funds.
 

• Conceptual diagram of LIFE Initiative