- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
March 21, 2013
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed on March 20, two separate memorandums of understanding (MOUs) with BDO Unibank, Inc. (BDO) and Metropolitan Bank and Trust Company (Metrobank) respectively, major commercial banks in the Philippines, for the development and the strengthening of frameworks to support Japanese mid-tier enterprises as well as small and medium enterprises (collectively "SMEs") through Japanese regional financial institutions. Under these MOUs, JBIC has built frameworks for conducting continuous consultations with each BDO and Metrobank to support business expansion into the Philippines by SMEs with which Japanese regional financial institutions have business relations.
- Since the Financial Services Agency, the Ministry of Finance, and the Ministry of Economy, Trade and Industry issued a joint press release, the "Development and Strengthening of Support System by Financial Institutions for Small and Medium Enterprises' Entry into Asia through Coordination among Japanese Regional Financial Istitutions, Japan Bank for International Cooperation (JBIC) and Japan External Trade Organization (JETRO)" in December 2010, JBIC has been working with the Regional Banks Association of Japan, etc., to strengthen partnerships with overseas local financial institutions, while identifying the needs of SMEs for expanding overseas business operations through Japanese regional financial institutions. Under the policy set forth in this joint press release, JBIC has signed these MOUs, following on from MOUs with KASIKORNBANK Public Company Limited (KBANK) in the Kingdom of Thailand, PT. Bank Negara Indonesia (Persero) Tbk (BNI) in the Republic of Indonesia and the State Bank of India (SBI) in India*1.
- Based on these MOUs, JBIC will conduct discussions with BDO and Metrobank in seeking to build a concrete collaborative framework through more active utilization of the Japan desks (windows for exclusively providing services to Japanese companies) set by both banks, in order to support the expansion of business operations in the Philippines by Japanese SMEs.
- Drawing lessons from its efforts made in materializing these MOUs, JBIC, in cooperation with Japanese regional financial institutions, intends to actively seek to strengthen its relationships with other Asian local financial institutions, thereby developing and strengthening a framework to support overseas deployment of Japanese SMEs.
- *1 See Press Releases on May 30, 2011 on the MOU with KBANK, on July 28, 2011 on the MOU with BNI and on August 31, 2012 on the MOU with the SBI.