- Region: Europe
September 1, 2010
- The Japan Bank for International Cooperation (JBIC; President & CEO: Hiroshi Watanabe)*1 today signed a memorandum of understanding (MOU) with the Ministry of Industry, Tourism and Trade (MITYC) of Spain for operational cooperation on environmental infrastructure projects in third-country markets.
- Specifically, both parties have agreed to exchange information about international tenders and environmental infrastructure projects in third-country markets, including in the water treatment and supply, concentrating solar power, photovoltaic power and wind power sectors. Both parties have also agreed under the MOU to work toward establishing information networks to promote joint projects of mutual interest by Japanese and Spanish companies.
- Spain has abundant experience in international environmental infrastructure projects, including in the water treatment and supply, concentrating solar power, photovoltaic power and wind power sectors, with a host of highly competitive companies operating in international markets. On the other hand, some of Japanese firms that have advanced environmental technologies intend to form alliances in international development of environmental infrastructure projects. It is expected that cooperative ties with MITYC will increase information exchange on environmental infrastructure projects and strengthen networks between Spanish and Japanese firms, while promoting joint environmental infrastructure projects contributing to preservation of the global environment. Furthermore, with Spain's strong network in the Maghreb region and Latin America, and Japan's solid network in Southeast Asia, companies in both countries would likely benefit from regionally complementing ties.
- JBIC has expanded its support for environmental infrastructure projects through the JBIC Facility for Asia Cooperation and Environment (FACE), *2 the Leading Investment to Future Environment (LIFE) Initiative*3 and Global action for Reconciling Economic growth and Environmental preservation (GREEN) operations.*4 By deepening partnerships with relevant domestic and foreign institutions, as showcased in this MOU, JBIC is committed to supporting overseas development of the environmental infrastructure business by Japanese firms.
- *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.
- *4 See Information on April 27, 2010.