- Region: Others
The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi), signed today a memorandum of understanding (MOU) with the International Finance Corporation (IFC; Chief Executive Officer: Philippe Le Houérou) to enhance cooperation between the two organizations.
JBIC is strengthening its support for Japanese companies' business activities in the fields of environment and quality infrastructure through its financing facilities such as the Growth Investment Facility*1 which was launched in January 2020. Identifying climate change measures as well as infrastructure development as key areas of focus, IFC also prioritizes to support for the development of essential infrastructure, particularly electricity, transportation and water systems, in developing countries. The aim of this MOU is to further increase collaboration between JBIC and IFC, including on projects in the environmental and infrastructure sectors in developing countries, such as those in Africa, South Asia and the Mekong Region.
In the Third Medium-term Business Plan (FY2018 to FY2020), JBIC positions Africa, South Asia and the Mekong Region as frontier markets. One of JBIC's action plans specified in the business plan includes supporting Japanese companies in expanding to those regions, by enhancing its risk-taking capabilities and collaborating with international organizations. Enhanced financial cooperation through the MOU is expected to further promote the creation of business opportunities for Japanese companies expanding to those regions.
As Japan's policy-based financial institution, JBIC will continue to support the overseas business expansion of Japanese companies while closely collaborating with international financial institutions.