- Region: Asia
June 22, 2010
- The Japan Bank for International Cooperation (JBIC; President and CEO: Hiroshi Watanabe)*1 today signed a memorandum of understanding (MOU) with the People's Government of Tianjin Municipality in the People's Republic of China (PRC) for operational cooperation in environmental and energy efficiency projects.
- The objective of the MOU is that JBIC and Tianjin Municipality promote Japanese firms' participation in environmental and energy efficiency projects undertaken in the municipality. Specifically, both parties have agreed to foster a close exchange of information and opinions on energy efficiency improvement, renewable energy, wastewater treatment, and other environment improvement or conservation projects.
- The number of environmental and energy efficiency projects has been increasing all over the world, reflecting growing global interest in environmental issues. Japanese firms are also expanding business operations in these areas. Tianjin Municipality is planning to build a highly efficient, resource-recycling economy in its development of Tianjin Eco-city. The municipality will focus on promoting investments in environmental and energy efficiency projects. JBIC has been strengthening its support for Japanese businesses engaged in overseas environment-related projects through the JBIC Facility for Asia Cooperation and Environment (FACE)*2 and the Leading Investment to Future Environment Initiative (LIFE Initiative)*3. JBIC's strengthened relationship with Tianjin Municipality through this MOU is expected to promote Japanese firms' participation in the municipality's environmental and energy efficiency projects.
- JBIC will continue to support the overseas environmental and energy efficiency businesses of Japanese companies, while deepening cooperative ties with relevant domestic and foreign agencies and institutions.
- *1 JBIC is the international wing of the Japan Finance Corporation (JFC; Governor: Shosaku Yasui).
- *2 See Press Release on April 1, 2008.
- *3 See Information on March 23, 2009.