- Region: Latin America and the Caribbean
- Infrastructures
July 28, 2014
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The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed on July 25 (Mexican time) a memorandum of understanding (MOU) with Banco Nacional de Obras y Servicios Públicos S.N.C. (BANOBRAS) of Mexico, a governmental financial institution that supports infrastructure development projects in Mexico, in the presence of Prime Minister of Japan H.E. Shinzo Abe and President of Mexico H.E. Enrique Peña Nieto. The MOU is intended to promote the exchange of information and views on the methodology of the Mexican peso-denominated loans from JBIC and the collaboration in the infrastructure sector.
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The Government of Mexico announced the National Infrastructure Program (2014-2018) in April 2014 and has set infrastructure development as one of the government's most important measures, and it's expected to expand business opportunities for Japanese companies in the infrastructure sector in Mexico. Under these circumstances, it's estimated to promote the structuring of infrastructure projects participated by Japanese companies, through the formation of framework for discussion of the methodology of the Mexican peso-denominated loans highly appreciated from Japanese companies and the exchange of information and views about potential infrastructure projects with BANOBRAS that will play an important role in the infrastructure loans for Mexico.
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As Japan's policy-based financial institution, JBIC will continue to actively support the creation and promotion of business opportunities of Japanese companies and contribute to further depth and development of economic relations between the two countries, by collaborating with such overseas policy-based financial institutions.