JBIC Signs MOU on Strategic Cooperation with YARA International ASA of Norway
Strengthening Cooperation in Sector of Ammonia as Fuel Source and Promoting Collaboration with Japanese Companies for Realizing Decarbonized Society
- Region: Europe
- Energy and Natural Resources
The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed today a Memorandum of Understanding (MOU) on strategic cooperation with YARA International ASA (YARA), a Norwegian company. The objectives of the MOU include promoting cooperation in the sector of using ammonia as a fuel source.
YARA, which is one of the world's largest ammonia manufacturers, aims to develop the international supply chain of ammonia as a fuel source to realize a decarbonized society and deepen collaboration with Japanese companies that share this objective to promote the structuring of projects. Also, in its Fourth Medium-term Business Plan, released in June 2021, JBIC aims to respond to energy transformation toward the realization of a decarbonized society.
With this MOU on strategic cooperation between JBIC and YARA, under which the framework for collaboration between the two organizations is to be developed, JBIC aims to accelerate the structuring of projects for developing the supply chain of ammonia as a fuel source.
As Japan's policy-based financial institution, JBIC will continue to contribute toward creating business opportunities for Japanese companies and securing a stable supply of resources for Japan through strengthening the cooperation with important partners in the decarbonization sector.