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The Japan Bank for International Cooperation (JBIC; Governor: Akira Kondoh) signed on March 8 a memorandum of understanding (MOU) with China Development Bank Corporation (CDB). The objective of this MOU is to strengthen cooperative relationship between JBIC and CDB for enhancing Japanese companies' exports and investments in China and third countries.
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CDB is a policy bank focusing on development under the direct jurisdiction of the State Council of the People's Republic of China, established with the purpose of providing loans and investments for infrastructure projects and other national projects in China. In recent years, however, CDB has also been engaged in supporting overseas development projects in response to the Chinese government's policy towards sustainable growth and Chinese companies' active overseas expansion. Meanwhile, many Japanese companies are developing their businesses in China and third countries, and thus JBIC's further strengthening of the cooperative relationship with CDB, which operates actively in China and third countries, is expected to help increase the business opportunities for Japanese companies.
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As Japan's policy-based financial institution, JBIC will continue to financially support the business expansion of Japanese companies in China and third countries, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.
