- Region: Europe
- The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed, at the Ukraine Recovery Conference co-hosted by the Governments of the United Kingdom and Ukraine in London on June 21 (London time), a memorandum of understanding on the EBRD-G7 DFI-EDFI Ukraine Investment Platform with development finance institutions in G7 countries and European countries*1 and the European Bank for Reconstruction and Development (EBRD), and announced a joint statement*2.
- The platform aims for development finance institutions in the G7’s and European countries and the EBRD to work together to provide assistance to Ukraine and its neighboring countries, by collaborating to exchange information and to provide financial support mainly in the private sector.
- As a policy-based financial institution of Japan, the G7 Presidency in 2023, JBIC had led discussions for establishing the platform, and on May 12, 2023, hosted a meeting in its head office with the G7 countries' development finance institutions and the EBRD, and announced a joint statement that they agreed to establish the platform*3. The memorandum of understanding, joined by non-G7, European development finance institutions as new participants, is based on the joint statement released on May 12, 2023, and aims to maximize effectiveness, create synergies and increase impact*4.
- The G7 Hiroshima Summit, chaired by the Government of Japan, confirmed that the G7 countries would work together to continue their support for Ukraine. Also, in the G7 Leaders’ Statement on Ukraine and the G7 Finance Ministers and Central Bank Governors Meeting Communiqué, the G7 leaders, finance ministers, and central bank governors welcomed the launch of the platform*5.
- Through these initiatives by capitalizing on its status as a policy-based financial institution of Japan, JBIC will assist with the reconstruction of Ukraine in collaboration with the like-minded countries and international leading institutions.
G7 signatories: JBIC, Japan International Cooperation Agency (JICA), Cassa Depositi e Prestiti (CDP, Italy), FinDev Canada (Canada), PROPARCO (France), U.S. International Development Finance Corporation (DFC, the U.S.), British International Investment (BII, the U.K.), and DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG, Germany), Non-G7 European signatories: Belgian Investment Company for Developing Countries (BIO, Belgium), Compañía Española de Financiación del Desarrollo (COFIDES, Spain), Finnfund (Finland), Investment Fund for Developing Countries (IFU, Denmark), Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO, the Netherlands), Norfund (Norway), Sociedade para o Financiamento do Desenvolvimento (SOFID, Portugal), Swiss Investment Fund for Emerging Markets (SIFEM, Switzerland), Swedfund International (Swedfund, Sweden)
Joined by members of the Association of European Development Finance Institutions (EDFI), the Ukraine Investment Platform was renamed the EBRD-G7 DFI-EDFI Ukraine Investment Platform.
See the G7 Leaders’ Statement on Ukraine posted on the website of the Ministry of Foreign Affairs of Japan "G7 Hiroshima Summit" on May 22, 2023, and the G7 Finance Ministers and Central Bank Governors Meeting Communiqué dated May 13, 2023, posted on the website of the Ministry of Finance of Japan.