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The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed today a Memorandum of Understanding (MOU) with Export Development Canada (EDC; President and CEO: Mairead Lavery).
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EDC is Canada’s export credit agency that was established in 1944 to support Canadian companies’ international growth by providing the trade knowledge, connections, and financial solutions, including loans, equity, and insurance. This MOU is intended to strengthen the cooperative relationship between JBIC and EDC, and it affirms their willingness to cooperate in sectors such as quality infrastructure, resilient supply chains, and energy transition, mainly in the Indo–Pacific region.
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In October 2022, the governments of Japan and Canada agreed to the “Action Plan: Canada–Japan 6 Shared Priorities,” which compiles specific actions to realize a “Free and Open Indo–Pacific,” at the Japan–Canada Foreign Ministers’ Meeting. In addition, they agreed to strengthen their cooperative relationship in the Indo–Pacific and beyond at the Japan–Canada Summit meetings in January 2023 and June 2024.
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By enhancing the partnership with EDC through this MOU, JBIC will further support the creation of business opportunities for Japanese companies in the above-mentioned sectors, primarily in the Indo–Pacific area. This MOU is also expected to deepen the cooperation between Japan and Canada.
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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 policy-based financial institutions.