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The Japan Bank for International Cooperation (JBIC; Governor: Tadashi Maeda) signed a memorandum of understanding (MOU) on October 22 with the European Investment Bank (EIB; President: Werner Hoyer) at the Japan-EU High-Level Dialogue for Industry, Trade and Economy.
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EIB is the European Union (EU)'s public financial institution which provides long-term financing and expertise for projects that contribute to economic integration and balanced development both in Europe and beyond. The signing of this MOU aims to promote cooperation between the two policy-based public financial institutions, JBIC and EIB, to create business opportunities for Japan and the EU both within and outside the EU.
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Stronger bilateral cooperation between Japan and the EU is expected -as evident in the conclusion of the July 2018 Japan-EU Economic Partnership Agreement (EPA) and the Strategic Partnership Agreement (SPA). Furthermore, JBIC and EIB share priority areas, such as innovation and environmental conservation amongst others. Under these circumstances, the MOU presents an opportunity for both entities to enhance cooperation and share knowledge and expertise.
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As Japan's policy-based financial institution, JBIC will continue to actively support the creation and promotion of business opportunities for Japanese companies and contribute to the further development of economic relations between Japan and the EU, by collaborating with overseas public financial institutions.
