- Region: Asia
December 21, 2009
- The Japan Bank for International Cooperation (JBIC; President & CEO: Hiroshi Watanabe)*1 signed today a memorandum of understanding (MOU) with Kitakyushu City (Mayor: Kenji Kitahashi) for cooperation on climate change mitigation and water infrastructure development.
- Specifically, JBIC and Kitakyushu City will share information and views on:
(1) Utilizing the experience, know-how and technologies that Japanese firms, particularly those in Kitakyushu City, possess on environment and climate change issues and water infrastructure, through the "Centre for Low-carbon Society in Asia" to be established by Kitakyushu City;
(2) Building a medium and long-term post-Kyoto international framework and fostering efforts of Japanese firms and municipalities to reduce carbon dioxide emissions in overseas countries;
(3) Strengthening the institutional setup of technology cooperation with Kitakyushu City to develop and maintain water infrastructure in Asian cities; and
(4) Accelerating the reform of social and economic systems to facilitate the shift to a low carbon society.
- As the international community has been focusing increasing attention on climate change and water issue, there are a growing number of projects that aim to mitigate climate change and develop or improve water infrastructure across the world. Japanese industries are also making greater efforts to conduct business in these projects. JBIC has been strengthening support for Japanese firms engaging in climate change mitigation and water infrastructure projects overseas through FACE*2 and the LIFE Initiative.*3 The signing of the MOU will lead JBIC to stronger cooperation with Kitakyushu City. Thus, it is expected to promote overseas environment-related businesses, through JBIC's international network, by tapping Kitakyushu city's climate change mitigation measures and its expertise to develop/improve water infrastructure, and by utilizing the proprietary experience, know-how and advanced environmental technologies of Japanese firms located in Kitakyushu City. This is the first MOU that JBIC has signed with an ordinance-designated city (the second MOU with a municipality following the one with Tokyo Metropolitan Government).
- JBIC will support climate change mitigation and water infrastructure development as well as the overseas business operations of Japanese industries, while enhancing cooperation with domestic and overseas stakeholders in these areas.
- *1 JBIC is the international wing of the Japan Finance Corporation (JFC; Governor: Shosaku Yasui).
- *2 JBIC Facility for Asia Cooperation and Environment (FACE): FACE was established as one component of Cool Earth Partnership, a new financial mechanism of the Japanese government for supporting developing countries in addressing climate change. It was announced by the former Prime Minister Yasuo Fukuda in his speech delivered in Davos, Switzerland, in January 2008.
- *3 See Information dated March 23, 2009.