The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on November 8 a Memorandum of Understanding (MOU) with Banco Nacional de Comercio Exterior, Sociedad Nacional de Crédito, Institución de Banca de Desarrollo (BANCOMEXT) to strengthen the partnership between the two organizations.
BANCOMEXT is a government financial institution in the United Mexican States (Mexico) with a mission to promote foreign trade and attract foreign capital. The MOU aims to discuss solutions to the challenges faced by Mexico in sectors such as electricity and the development of projects in the hydrogen and ammonia fields through the investments, products, and technologies of Japanese companies, and to promote the country’s decarbonization and energy transition through financial support. Additionally, the areas of cooperation include the promotion of digital transformation (DX). This partnership is expected to create opportunities for Japanese companies that maintain a strong presence in these areas or aim to enter new sectors with an eye on market expansion.
In the Fifth Medium-Term Business Plan, released in June 2024, JBIC aims to contribute toward realizing both carbon neutrality and economic growth. In addition, in its ESG Policy, released in October 2021, it is committed to pursuing ambitious and accelerated efforts to reduce its operational greenhouse gas (GHG) emissions to net zero by 2030 and achieve net zero emissions of its finance portfolio by 2050. The ESG Policy states that JBIC will contribute toward realizing global carbon neutrality by supporting and accelerating energy transitions toward decarbonized societies in emerging and developing countries. The signing of the MOU is in line with the Medium-Term Business Plan and the ESG Policy of JBIC.
As Japan's policy-based financial institution, JBIC will continue to work closely with foreign governments and governmental agencies, thereby contributing toward creating business opportunities for Japanese companies as well as maintaining and improving the international competitiveness of Japanese industry.
