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The Japan Bank for International Cooperation (JBIC, Governor: Tadashi Maeda) signed a memorandum of understanding (MOU) on November 29 (Argentine time), with the Argentine Ministry of Treasury and Banco de la Nación Argentina (BNA), the largest commercial bank in Argentina, with the goal of promoting infrastructure development in the country. The MOU was entered into on the occasion of the Japanese Prime Minister Shinzo Abe's participation in the G20 Leaders' Summit set to take place on November 30 - December 1 in Buenos Aires, Argentina.
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The objective of this MOU is to reinforce ties between Japan and Argentina and promote business expansion between the two countries through the exchange of information and cooperation between JBIC, the government of Argentina and BNA related to infrastructure development projects to be carried out in Argentina.
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In Argentina, there are prospects for enlarging business opportunities, mainly in the field of infrastructure and energy. Japanese companies are focusing their interest on Argentina as a promising export partner. This MOU is expected to further fortify the cooperative ties between JBIC, the government of Argentina and BNA, and consequently contribute to business expansion by Japanese companies in Argentina.
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A Japan's policy-based financial institution, JBIC will continue to actively support the creation and promotion of business opportunities for Japanese companies while collaborating with local financial institutions, and thereby further deepen and develop economic relations between Argentina and Japan.
