JBIC Signs HOA with Côte d’Ivoire
Promoting Côte d’Ivoire’s Initiatives for Realizing Decarbonized Society

• Region: Africa
• Environment

1. The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on December 13 a Heads of Agreement (HOA) with the Ministry of Finance and Budget of the Republic of Côte d’Ivoire to proceed with further discussions for financing under JBIC’s GREEN operations^*1, taking the opportunity of the Third JAPAN AFRICA Public-Private Economic Forum held in Côte d’Ivoire.
     
2. The government of Côte d’Ivoire announced a greenhouse gas (GHG) emissions reduction target of 30.41% (compared to BaU^*2) by 2030 under its Nationally Determined Contributions (NDC), an action plan that addresses climate change under the Paris Agreement. Côte d’Ivoire regards climate action as one of the pillars of its national development strategy and is experiencing more business opportunities in the green sector toward low-carbonization and decarbonization. The HOA is intended to aim at building a consensus in which JBIC will provide a credit line to Côte d’Ivoire under GREEN operations to support projects, such as those related to decarbonization, implemented by the country. It follows a Memorandum of Understanding signed in August 2022^*3.
     
3. 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 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 a decarbonized society 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.
     
4. As Japan's policy-based financial institution, JBIC will continue to provide financial support for sustainable development efforts, including those for global environmental preservation, through strengthened cooperation with important partners in the decarbonization sector.
     

Note

1. *1 
   See announcement on July 2, 2018.
2. *2 
   Business as Usual: If the status quo is maintained without taking any reduction measures.
3. *3 
   See press release on August 29, 2022.