JBIC Signs MOU with West African Development Bank (BOAD)
Supporting Japanese Companies in Structuring Environmental Preservation Projects in West African Region

• Region: Africa
• Environment
• Others

1. The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed today a Memorandum of Understanding (MOU) with the West African Development Bank (BOAD) to promote business in West African countries that will contribute toward the preservation of the global environment, taking the opportunity of the Ninth Tokyo International Conference on African Development (TICAD 9) which is being held in Yokohama.
     
2. BOAD is a regional development finance institution established by the member countries of the West African Economic and Monetary Union (Côte d'Ivoire, Benin, Senegal, Niger, Togo, Burkina Faso, Mali, and Guinea-Bissau). BOAD’s mission is to drive the sustainable development of its member countries and foster economic integration in West Africa.
     
3. On the occasion of the Seventh Tokyo International Conference on African Development (TICAD 7) held in Yokohama in August 2019, and the Eighth Tokyo International Conference on African Development (TICAD 8) held in Tunisia in August 2022, JBIC signed MOUs with BOAD, respectively*1, to promote structuring projects involving Japanese companies in the West African region, which contribute toward environmental conservation. The MOU signed this time builds upon previous MOUs and reflects the growing trend of Japanese companies expanding into West Africa and the specific needs of Japanese companies in the region concerning global environmental conservation.
     
4. As Japan's policy-based financial institution, JBIC will continue to actively support the creation of business opportunities for Japanese companies in Africa while closely collaborating with overseas regional development financial institutions.
     

Note

1. *1 
   See Press Releases on August 30, 2019 and August 29, 2022.