- Region: North America
November 15, 2010
- The Japan Bank for International Cooperation (JBIC; President & CEO: Hiroshi Watanabe)*1 signed on November 12 a Memorandum of Understanding (MOU) with the Inter-American Development Bank (IDB; President: Luis Alberto Moreno) to strengthen cooperation under the "Global action for Reconciling Economic growth and Environmental preservation" (GREEN)*2.
- With the new responsibility known as GREEN added to its mission in March 2010, JBIC has further strengthened support for projects that are having a favorable impact on the preservation of the global environment. Since the IDB has been active in making loan commitments and providing technological assistance to the environmental sector including renewable energy, urban traffic, and energy saving in Latin America and the Caribbean region, collaboration with the IDB through information sharing is expected to help JBIC conduct GREEN with more effectiveness and efficiency.
- As an international development finance institution established to promote economic and social development in Latin America and the Caribbean region through financial assistance, IDB plays an essential role in the economic growth of the region. To date, JBIC has worked jointly with the IDB and built up close cooperative ties with the institution over the years. In an effort to contribute to the sound development of the Japanese and international economy, JBIC will continue to efficiently conduct the GREEN operations in close partnership with multilateral financial institutions including the IDB.
- *1 JBIC is the international wing of the Japan Finance Corporation (JFC; Governor: Shosaku Yasui).
- *2 See Information dated April 27, 2010.