- Region: Africa
- Energy and Natural Resources
October 1, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed on September 30 a memorandum of understanding (MOU) with the Ministry of Mineral Resources (the "MIREM") of the Government of the Republic of Mozambique ("Mozambique") with the objectives of promoting: (i) a bilateral exchange of information and views; and (ii) joint cooperation toward development and implementation of mineral resources-related projects in Mozambique, in which Japanese companies are or expected to be involved.
Mozambique is endowed with abundant energy and mineral resources, including natural gas and coal, and Japanese companies have high interests in becoming involved in projects relating to such resources. During the visit of Prime Minister Abe to Mozambique in January this year, Japan and Mozambique agreed on the "Japan-Mozambique Development Initiative based on natural gas and coal" under the "AMIZADE (friendship in Portuguese)" partnership, and decided to work toward improving Mozambique's investment climate in connection with facilitation and acceleration of future mineral resources-related projects in Mozambique.
In October 2013, JBIC held a workshop in Maputo on natural gas development project financing for the officials of the Mozambique Government and governmental agencies of Mozambique, thereby supporting the country's capacity building. The signing of the MOU is anticipated to help provide a framework for facilitating an efficient exchange of information and views between the MIREM and JBIC, mutual capacity building, and joint cooperation toward development and implementation of mineral resources-related projects in Mozambique. Promotion of such projects is in turn expected to contribute to diversification of Japan's sources of energy and mineral resources and to expansion of business opportunity for Japanese companies in the related sector.
As Japan's policy-based financial institution, JBIC will continue to support Japanese companies in connection with their acquisition of energy and mineral resources and business deployment in Mozambique through its efforts to support formulation and implementation of relevant projects from their early stage.