-
The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on April 10 a Memorandum of Understanding (MOU) with the U.S. International Development Finance Corporation (DFC), taking the opportunity of the Japan-U.S. Summit Meeting.
-
DFC is the U.S. government's development finance institution that was established to mobilize and facilitate the investment of private capital in the economic and social development of emerging-market countries by offering financing, political risk insurance, and other financial tools for developmental projects.
-
In November 2017, JBIC signed an MOU with the Overseas Private Investment Corporation (OPIC, a former organization of DFC) to promote projects in third countries in cooperation between Japan and the United States
*1. In January 2021, JBIC and DFC signed another MOU to extend the scope and regions of collaboration
*2.
-
The governments of Japan and the United States held four summit meetings in 2023 and concurred on continuing to work closely together between the two countries. This MOU is intended to further strengthen the cooperation that has developed between JBIC, DFC, and OPIC since the signing of the MOU in 2017, and it affirms their willingness to cooperate in sectors such as quality infrastructure, resilient supply chains, and energy transitions. This MOU will contribute toward the realization of a “Free and Open Indo-Pacific,” as promoted by the government of Japan. It is also expected to further strengthen the relationship between Japan and the United States.
-
JBIC, along with DFC, has promoted multilateral cooperation. And in November 2018, JBIC signed an MOU with OPIC, the Department of Foreign Affairs and Trade (DFAT) of Australia, and the Export Finance and Insurance Corporation, the former organization of Export Finance Australia (EFA). In October 2022, it signed another MOU with DFC, DFAT, and EFA to increase the areas of cooperation, thereby building and strengthening a Japan-United States-Australia partnership in the Indo-Pacific region.
-
JBIC and the other organizations have also collaborated in individual projects. In the first project under the partnership in January 2021, JBIC extended a loan to Belau Submarine Cable Corporation, a state-owned public submarine cable corporation of the Republic of Palau, and in the second project in March 2023, JBIC provided a guarantee for a loan for the acquisition of Digicel Pacific Limited by Telstra Group Limited of Australia
*3.
-
In addition to cooperation in individual projects, the organizations issued a joint statement of support for the Vietnam Climate Finance Framework in January 2023
*4, where they will collaborate to support Vietnam in achieving its goal of net zero greenhouse gas (GHG) emissions.
-
On the sidelines of the Trilateral Leaders’ Summit between Japan, the United States, and the Republic of Korea, JBIC also signed an MOU with DFC and the Export-Import Bank of Korea (KEXIM) in August 2023
*5. Following a senior-level meeting in March 2024, the three organizations issued a joint statement to articulate their shared intent to contribute to the growth of digital infrastructure in India
*6.
-
As Japan's policy-based financial institution, JBIC will continue to financially support the creation of business opportunities and the promotion of business for Japanese companies and contribute toward the further development of economic relations between related countries by collaborating closely with such overseas governments and government institutions.
