- Region: Latin America and the Caribbean
- Energy and Natural Resources
October 11, 2012
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today, a memorandum of understanding (MOU) with the Ministry of Planning and Development of the Plurinational State of Bolivia (Bolivia) and Corporación Andina de Fomento (CAF; in English name: Development Bank of Latin America)*1 for the purpose of promoting infrastructure and mining development in Bolivia.
- This tripartite collaborative MOU between Bolivia, CAF and JBIC is conducted based on the “Cooperation Agreement”*2 signed on March 17, 2012. The objective of this MOU is that the government of Bolivia, CAF and JBIC mutually cooperate, through such means as exchanges of information and cofinancing, to promote infrastructure and mining development projects primarily undertaken in Bolivia. Through their cooperative efforts, the parties aim to help advance a medium-to-long-term mutually beneficial relationship between Bolivia and Japan, and to enhance the business deployment between Japan and Bolivia.
- Bolivia has abundant resources of valuable minerals, including zinc, lead, and the world's largest deposit of lithium, and is thus an important country with which Japan hopes to strengthen relations. CAF, which has a strong relationship with the government of Bolivia, mainly supports the economic development and integration of the Andes region by providing financial assistance, and is actively participating in the development of mineral resources and infrastructure. Furthermore, CAF and JBIC have established cooperative ties for more than 30 years. This MOU is aimed at enhancing an even closer cooperative and collaborative relationship between the parties, and is expected to contribute to the business deployment of Japanese companies in Bolivia.
- Through these efforts, JBIC will continue to support the creation of business opportunities and promoting the business deployment of Japanese companies in Bolivia, while collaborating with regional development finance institutions, thereby further deepening and developing economic relations between these countries and Japan.
- *1 CAF, Development Bank of Latin America, has a mission to promote sustainable development and regional integration by financing projects in the public and private sectors, and provide technical cooperation and other specialized services. Established in 1970 and currently consisting of 18 member countries -16 in Latin America and the Caribbean, as well as Spain and Portugal- and 14 private banks, CAF is one of the main sources of multilateral financing and an important creator of knowledge for the region.
- *2 See Press Release on March 19, 2012