JBIC Signs MOU with Cassa depositi e prestiti of Italy
Promoting cooperation between Japan and Italy to create business opportunities
The Japan Bank for International Cooperation (JBIC; Governor: Tadashi Maeda) signed a memorandum of understanding (MOU) on April 25 with Cassa depositi e prestiti S.p.A. (CDP; Chairman: Massimo Tononi) of Italy.
CDP is a public financial institution which provides financial support with the aim of strengthening the competitiveness of Italian companies and promoting infrastructure investments and local development. Based on a mutual understanding of policies of both countries - namely, the Quality Infrastructure Investment, and Free and Open Indo-Pacific Strategy initiatives of the Japanese government, and the National Sustainable Development Strategy 2017/2030 of the Italian government - this MOU is intended to create business opportunities for Japanese and Italian companies in Italy and third countries. It also aims to strengthen the cooperative relationship of JBIC and CDP with regards to their financial support for those projects based on the global standards such as openness, transparency, economic viability, debt sustainability, and compliance with laws and regulations.
In July 2018, Japan and the European Union (EU) signed the Economic Partnership Agreement as well as the Strategic Partnership Agreement. With these agreements, trade and investments between Japan and the EU are expected to become more active, and likewise, the relationship between the Japanese and Italian governments is expected to deepen even further. Under these circumstances, enhancing the cooperative relationship between JBIC and CDP, by sharing expertise and considering collaboration opportunities, will encourage the creation of business opportunities for Japanese and Italian companies.
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 including Italy, by collaborating with overseas public financial institutions.