JBIC Announces Joint Statement with OPIC, DFAT and Efic Reaffirming Commitment to Indo-Pacific Infrastructure Development
Promoting projects in third countries in cooperation among Japan, the United States and Australia to maintain and promote a free, open, prosperous and inclusive Indo-Pacific Region, and to improve regional connectivity
The Japan Bank for International Cooperation (JBIC, Governor: Tadashi Maeda) announced today a joint statement
with the United States' Overseas Private Investment Corporation (OPIC, Acting President and CEO: David Bohigian), Australia's Department of Foreign Affairs and Trade (DFAT) and Export Finance and Insurance Corporation (Efic, CEO: Swati Dave).
In this joint statement, the trilateral partners reaffirmed their continued commitment to providing financing support to infrastructure and energy sectors in the Indo-Pacific region in accordance with the shared global standards among the trilateral partners, including committing to adhering to high international social, labor and environmental standards; ensuring transparency and sustainability; fostering openness and inclusiveness such as creating economic opportunities for local workers and women; enhancing the resilience and self-sufficiency of host countries; and respecting national sovereignty of host countries.
JBIC signed a memorandum of understanding (MOU) on business cooperation with OPIC, DFAT and Efic in November 2018*1
. Based on this MOU, the trilateral partners have committed to advancing projects which they can closely work on, with the focus in the areas of infrastructure including electrification, gas value chains and digital connectivity. In April 2019, the trilateral partners dispatched a joint mission to Papua New Guinea to exchange opinions about prospective projects in the country with its government, the private sector and other related stakeholders. The trilateral partners will also consider dispatching another joint mission to the ASEAN region to identify and pursue opportunities for further collaboration.
As Japan's policy-based financial institution, JBIC will continue to actively support the creation and promotion of business opportunities for Japanese companies and tackle global issues such as regional connectivity of the Indo-Pacific, by collaborating closely with such overseas governments and policy-based financial organizations.