JBIC Signs MOU with FONPLATA Development Bank
Collaboration in South America for Realizing Decarbonized Society
- Region: Latin America and the Caribbean
The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed today a Memorandum of Understanding (MOU) with FONPLATA Development Bank (FONPLATA; Executive President: Juan E. Notaro Fraga). The objective of the MOU is to enhance active collaboration for promoting the business of Japanese companies in a wide range of areas, particularly in the realization of a decarbonized society.
FONPLATA is a multilateral development institution composed of five member countries within and across the River Plate Basin areas, namely the Argentine Republic, the Plurinational State of Bolivia, the Federative Republic of Brazil, the Republic of Paraguay, and the Oriental Republic of Uruguay. FONPLATA is deeply engaged in small and medium-sized infrastructure projects. In recent times, FONPLATA also focuses on supporting the realization of the decarbonization policies of its member countries.
South America, including the FONPLATA member countries, has great potential for renewable resources, such as water, wind, and solar energy. It is also endowed with a wealth of minerals used to make batteries for electric vehicles, and other natural resources required for a decarbonized society. Under this MOU, JBIC will establish a further enhanced relationship with FONPLATA and its member countries through dialogue, and it is expected to further promote the activities of Japanese companies that aim to expand their business in South America. Moreover, this MOU is also expected to contribute toward the activation of businesses related to decarbonization, such as in areas of renewable energies and hydrogen.
As Japan’s policy-based financial institution, in cooperation with regional development financial institutions, JBIC will continue to financially support the maintaining and strengthening of the international competitiveness of Japanese industries, securing of a stable supply of minerals and energy resources for Japan, as well as helping preserve the global environment through supporting Japanese companies’ participation in various projects in South America.