The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on August 28 a Memorandum of Understanding (MOU) with Mitsui E&S Co., Ltd. (Mitsui E&S) and Yılport Holding A.Ş. (Yılport), a Turkish company. The objectives of the MOU include promoting cooperation in port operations.
Yılport is a leading global terminal operator that operates around the world, from the Mediterranean region, including Türkiye, to Northern Europe, the Iberian Peninsula, Central and South America, and Africa. The MOU aims to support port development by using the port container cranes of Mitsui E&S as Yılport plans to expand its port operations business in various parts of the world, such as the Republic of Ecuador in Latin America and the Republic of Ghana in Africa.
The Partnership for Global Infrastructure and Investment (PGII), which was launched by G7 countries, is an initiative to promote investments in infrastructure projects, such as one that contributes toward enhancing supply chain resilience, by working with the private sector and partner nations. For the infrastructure strategy of Japan, the outline of a new strategy looking ahead to 2030 was approved on June 5, 2024, by the Ministerial Meeting on Strategy relating to Infrastructure Export and Economic Cooperation. It presents goals for 2030, which include strengthening supply chain resilience and ensuring economic security in the process, such as infrastructure development, in close cooperation with like-minded countries, such as G7 countries, Australia, and India as well as the Global South, and emerging and developing countries that are interested in partnering with Japan. The MOU is intended to promote developing port infrastructure in the Global South countries through the export of the port cranes of Mitsui E&S in collaboration with Turkish companies as well as the governmental institutions of like-minded countries. It is also in line with the policy of governments of Japan and other G7 countries.
As Japan’s policy-based financial institution, JBIC will continue to provide financial support to assist Japanese companies in the export of machinery and equipment and in the overseas expansion of their businesses by drawing on its various financial facilities and schemes for structuring projects and by performing its risk-assuming function.
