- Region: Latin America and the Caribbean
- Machinery and Equipment
March 18, 2013
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed on March 16 (Panama Time), upon the Inter-America Development Bank (IDB)'s annual meeting held in Panama, a memorandum of understanding (MOU) with Bancolombia S.A. (Bancolombia), the major commercial bank in Colombia, for the purpose of information exchange on possible future collaboration in financing.
- The objective of this MOU is to explore the future cooperation between JBIC and Bancolombia for supporting the financing of Japanese exports of machinery and equipment to Colombia, and to exchange information regarding potential projects under the future financing cooperation.
- With Colombia's strong demand for infrastructure development based on its steady economic growth, in recent years, there have been growing expectations on the expansion of Japanese exports to Colombia through collaboration between Japanese and Colombian companies, and also on the major role JBIC should play therein. Under these circumstances, this MOU is expected to contribute to expansion of Japanese companies' business opportunities in Colombia, by strengthening cooperative and collaborative relationship between JBIC and Bancolombia.
- JBIC will continue to support Japanese companies' businesses deployment in Colombia, in collaboration with such overseas local financial institutions in Colombia, by drawing on its various financial facilities and schemes for structuring projects, and by performing its risk-assuming function.