- Region: Latin America and the Caribbean
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
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 Nacional Financiera, S.N.C., I.B.D. (NAFIN; General Director: Jacques Rogozinski ) of Mexico, a governmental financial institution that supports mid-tier enterprises and small and medium-sized enterprises (SMEs) and renewable energy and energy efficiency projects in Mexico, in the presence of Prime Minister of Japan H.E. Shinzo Abe and President of Mexico H.E. Enrique Peña Nieto.
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This MOU is intended to strengthen the exchange of information and views on the manufacturing sector of local SMEs and environmental sector such as renewable energy projects in Mexico.
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Since the change in government at the end of 2012, the government of Mexico is exerting its efforts toward structural reform including those sectors, aiming at Mexican economy's productivity improvement, by instructing NAFIN to expand its loans to local SMEs and targeting to bring up the ratio of power generation by renewable energy to 35% by 2024 under its Energy Reform. Through this MOU, it is expected to promote business opportunities of Japanese and Mexican companies in those sectors with the collaboration between NAFIN and JBIC.
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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 two countries, by collaborating with such overseas policy-based financial institutions.