- Region: Asia
October 29, 2010
- The Japan Bank for International Cooperation (JBIC; President & CEO: Hiroshi Watanabe)*1 signed today a memorandum of understanding (MOU) with Yokohama City (Mayor: Fumiko Hayashi) for cooperation on environmental and urban infrastructure projects.
- Specifically, JBIC and Yokohama City will share information and views on:
(1) Maintaining and strengthening cooperation for internationally promoting environmental projects as well as water and urban infrastructure projects in Asian cities and elsewhere;
(2) Utilizing the experience, know-how and technologies related to the environment and urban infrastructure possessed by Japanese firms, especially those based in Yokohama City, through the "Yokohama Partnership of Resources and Technologies (Y-PORT)" established by Yokohama City;
(3) Promoting the effective use of the technological capability and human resources possessed by companies located in Yokohama City; and
(4) Encouraging municipalities and companies overseas to reduce CO2 emissions by effectively utilizing Yokohama City's experience and know-how on intelligent, compact and environmentally friendly urban infrastructure development.
- As the international community is focusing increasing attention on environmental and water infrastructure projects, and the number of these projects is growing across the world, Japanese industries are also making greater efforts to participate in these projects. JBIC has been strengthening its support for Japanese firms engaging in environmental and water infrastructure projects overseas through the LIFE Initiative*2 and GREEN*3, as well as for the projects undertaken in developing countries with the aim of reducing greenhouse gas emissions. The signing of this MOU will lead to stronger cooperation between JBIC and Yokohama City. It is expected, therefore, to promote overseas environment-related businesses by tapping Yokohama City's proprietary know-how and advanced technologies in the environment and water infrastructure sectors and JBIC's international network. This is the third MOU that JBIC has signed for cooperation on the environment with a municipality following those with Tokyo Metropolitan Government and Kitakyushu City.*4
- JBIC will support global environmental preservation 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 including Yokohama City.
- *1 JBIC is the international wing of the Japan Finance Corporation (JFC; Governor: Shosaku Yasui).
- *2 See Information dated March 23, 2009.
- *3 See Information dated April 27, 2010.
- *4 See Press Release dated December 21, 2009.