- Region: Africa
- Others
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The Japan Bank for International Cooperation (JBIC Governor: Tadashi Maeda) signed on August 29 a Memorandum of Understanding (MoU) with the West African Development Bank (BOAD) for business promotion between Japan and the West African countries, taking the opportunity of the seventh Tokyo International Conference on African Development (TICAD 7) held in Yokohama, Japan.
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The objective of this MoU is to promote the business expansion of Japanese companies in the West African region through the exchange of information between JBIC and BOAD on political and economic climates as well as potential projects in West African countries.
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BOAD is a regional development finance institution established by the member countries of the West African Economic and Monetary Union (Côte d'Ivoire, Benin, Senegal, Niger, Togo, Burkina Faso, Mali and Guinea-Bissau). Its mission is to drive the equitable development of its member countries and foster economic integration in West Africa. Also, it has strong relationships with the governments of the member countries and is extensively involved with infrastructure development in the West African region.
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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 operating in West Africa while collaborating with regional development finance institutions.
