JBIC Signs MOU with West African Development Bank (BOAD)
Promoting Cooperation for Supporting Japanese Companies Business Preserving Environment in West African Region

• Region: Africa
• Environment
• Others

1. The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on August 27 a Memorandum of Understanding (MOU) with the West African Development Bank (BOAD) for promoting business in West African countries that will contribute toward the preservation of the global environment, taking the opportunity of the eighth Tokyo International Conference on African Development (TICAD 8) held in Tunisia.
     
2. 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). BOAD's mission is to drive the equitable development of its member countries and foster economic integration in West Africa.
     
3. In August 2019, on the occasion of the seventh Tokyo International Conference on African Development (TICAD 7) held in Yokohama, Japan, JBIC and BOAD signed an MOU for promoting business between Japan and West African countries^*1. The MOU signed on the occasion of TICAD 8 will further enhance the cooperative relationship built between JBIC and BOAD, and aims to support structuring projects in the West African region, with involvement of Japanese companies, that would contribute to preserving the environment through exchanging information between JBIC and BOAD on potential opportunities of environmental preservation, including the reduction of greenhouse gas emissions.
     
4. As Japan's policy-based financial institution, JBIC will continue to actively support the creation of business opportunities for Japanese companies in Africa, while collaborating with overseas regional development finance institutions.
   
   

Note

1. *1 
   See Press Release on August 30, 2019.