- Region: Asia
- Manufacturing and Services
March 1, 2013
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today a memorandum of understanding (MOU) regarding the strategic partnership with RHB Bank Berhad (RHB), one of the leading commercial banks in Malaysia, to promote comprehensive cooperation for supporting environment-related projects and overseas businesses deployment of Japanese companies in Malaysia and ASEAN countries.
- Under the MOU, JBIC and RHB will build a framework of dialogue for strengthening mutual cooperative ties. With such framework, both banks seek to forge a closer cooperative and collaborative relationship wherein they could jointly consider support for those environment-related projects and projects in such areas as infrastructure development and supporting industries that will facilitate overseas business deployment of Japanese companies, including mid-tier enterprises and small and medium-sized enterprises (collectively, SMEs), in Malaysia and the ASEAN region.
- RHB is the fifth largest commercial bank (by total assets) in Malaysia. In addition to engaging in corporate lending in Malaysia and ASEAN countries, RHB has set up the Japan Desk to make it one of the bank's focus areas to provide loans to the local Japanese affiliates and subsidiaries. Over the years, JBIC has extended three untied loans to RHB in an effort to improve the business environment for the local Japanese affiliates and subsidiaries.*1 Further, JBIC signed in July 2006 a tripartite MOU with RHB and Japan Carbon Finance, Ltd. (JCF).*2 The present MOU is expected to increase business opportunities of Japanese companies including SMEs in Malaysia and the ASEAN region by further strengthening cooperative ties between JBIC and RHB.
- JBIC will continue to support overseas business activities of Japanese companies as well as efforts for global environment preservation in close collaboration with RHB by drawing on its various financial facilities and schemes for structuring projects, and by performing its risk-assuming function.
- *1 See Press Releases on April 7, 2006, March 24, 2008, and May 28,2009.
- *2 See Press Release on July 27, 2006.