- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
May 30, 2011
- Japan Bank for International Cooperation (JBIC; President & CEO: Hiroshi Watanabe)*1 signed today, a memorandum of understanding (MOU) with KASIKORNBANK Public Company Limited (KASIKORNBANK), a commercial bank in Thailand, on developing and strengthening a framework for supporting small and medium enterprises (SMEs) and mid-tier companies through Japanese regional financial institutions.
- This MOU is based on "Development and Strengthening of Support System by Financial Institutions for Small and Medium Enterprises' Entry into Asia through coordination among Japanese regional financial institutions, Japan Bank for International Cooperation (JBIC) and Japan External Trade Organization (JETRO)." a joint press release by the Financial Services Agency, the Ministry of Finance and the Ministry of Economy, Trade and Industry on December 21, 2010. This is the first outcome of their partnership effort. Since the release of this press release, JBIC has been working with the Regional Banks Association of Japan to select foreign financial institutions that may become candidates for forming partnerships with JBIC, while identifying the needs of SMEs for expanding their operations overseas through Japanese regional financial institutions.
- KASIKORNBANK, established in 1945, is a commercial bank in Thailand. To date, it has placed significant emphasis on financing local Japanese affiliates and subsidiaries. Under this MOU, JBIC has built a framework for conducting continuous consultation with KASIKORNBANK to support business expansion into Thailand by the SMEs with which Japanese regional financial institutions have business dealings, including expansion of the previously established Japan desk (a desk exclusively providing services for Japanese firms). JBIC will act as a bridge between KASIKORNBANK and the Japanese regional financial institutions partnering KASIKORNBANK, to support the expansion of business operations in Thailand by Japanese SMEs. And for this purpose, JBIC will conduct discussions with individual Japanese regional financial institutions with a view to building a concrete framework.
- Drawing lessons from its efforts made in materializing this MOU, JBIC, in cooperation with Japanese regional institutions, intends to actively seek MOUs with other Asian financial institutions, thereby developing and strengthening a framework for supporting Japanese SMEs.