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The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed today a memorandum of cooperation (MOC) with the U.S. Trade and Development Agency (USTDA; Director: Enoh T. Ebong).
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As a government agency of the U.S., USTDA supports infrastructure projects through technology assistance, feasibility studies, pilot projects, etc., in order to complement the economic development of emerging countries and others, support the export of U.S. goods and services, and advance the foreign policy interests of the U.S.
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This MOC is intended to strengthen the cooperation between JBIC and USTDA, and to support projects in certain sectors including but not limited to infrastructure, renewable energy, telecommunication and digital connectivity, mainly in the Indo-Pacific, together with the Middle East, Africa, Latin America, the Caribbean, and Eastern Europe. The Governments of Japan and the U.S. regard these sectors as important from economic and strategic perspectives, and JBIC aims to further support, through the partnership with USTDA, projects in which Japanese and U.S. companies participate.
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The Governments of the U.S. and Japan launched the U.S.-Japan Climate Partnership and the U.S.-Japan Competitiveness and Resilience (CoRe) Partnership in April 2021, followed by the establishment of the Japan-U.S. Clean Energy Partnership in June 2021, to contribute to supporting countries in the Indo-Pacific and around the world to accelerate their decarbonization efforts while achieving energy security and sustainable growth. In May 2021, both Governments also launched the U.S.-Japan Global Digital Connectivity Partnership to deepen bilateral cooperation on the digital economy and next-generation digital technology issues. Under these partnerships, public-private cooperation and alignment centered on the U.S. and Japan are important to further enhance project identification and project formation in the Indo-Pacific and other regions, while various assistances from the early stages of the projects are also essential.
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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 and contribute to the further development of economic relations between the two countries, by collaborating closely with such overseas government institutions.
