- Region: Latin America and the Caribbean
December 9, 2010
- The Japan Bank for International Cooperation (JBIC; President & CEO: Hiroshi Watanabe)*1 signed on December 8 a Memorandum of Understanding (MOU) with Banco Nacional de Obras y Servicios Públicos, S.N.C.*2, the Mexican National Infrastructure Fund, and The Inter-American Development Bank (IDB) for operational cooperation concerning GREEN*3 operations in Mexico.
- In Cancun, Mexico, the 16th session of the Conference of the Parties (COP 16) to the United Nations Framework Convention on Climate Change (UNFCCC) is being held from November through December this year. Mexico, the host country, is actively addressing climate change mitigation adaptation measures in Mexico by utilizing Banco Nacional de Obras y Servicios Públicos, S.N.C. and the Mexican National Infrastructure Fund, both of which provide financial support for the country's infrastructure projects. In the meantime, following the enforcement of the law to revise part of the Japan Finance Corporation Act (the Revised JFC Act) on March 31, 2010, JBIC has strengthened assistance for projects aimed at significantly reducing greenhouse gas (GHG) emissions, under a new JBIC financial instrument called GREEN (Global action for Reconciling Economic growth and ENvironmental preservation). This MOU is expected to enable JBIC to implement the GREEN operations in Mexico in a more efficient and effective manner by sharing information and collaborating with Banco Nacional de Obras y Servicios Públicos, S.N.C., the Mexican National Infrastructure Fund and IDB.
- Since 2009 marks the 400th anniversary of Japan-Mexico relations, a variety of memorial events have been held in 2009 and 2010. Working together for projects aimed at reducing GHG emissions in Mexico in this anniversary year will help strengthen bilateral ties between Japan and Mexico.
- JBIC will steadily carry out the GREEN operations in Mexico through cooperation with Banco Nacional de Obras y Servicios Públicos, S.N.C., the Mexican National Infrastructure Fund and IDB, thereby contributing to sound development of the Japanese and international economy.
- *1 JBIC is the international wing of the Japan Finance Corporation (JFC; Governor: Shosaku Yasui).
- *2 Banco Nacional de Obras y Servicios Públicos, S.N.C. signed this MOU in the capacity of a trustee of the Mexican National Infrastructure Fund.
- *3 See Information dated April 27, 2010.