The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed today a Memorandum of Understanding (MOU) with the Bases Conversion and Development Authority (BCDA) of the Philippines to strengthen the partnership between the parties.
BCDA, a government institution that develops former U.S. military reservations in the Philippines, promotes public works and infrastructure development projects in the Luzon region in particular and the country in general, through collaboration with the private sector. Through the stronger ties between JBIC and BCDA, the MOU aims to promote collaboration opportunities for Japanese companies and BCDA, and to support the development and implementation of BCDA projects and programs for energy transition and quality infrastructure in the Philippines. These goals will be pursued through initiatives such as introducing Japanese technologies that contribute toward BCDA’s project development.
In the Fifth Medium-Term Business Plan, released in June 2024, JBIC aims to contribute toward realizing both carbon neutrality and economic growth and solving social issues in collaboration with host countries. The signing of the MOU is in line with this plan, as well as the concept of the Asia Zero Emission Community (AZEC), released by the government of Japan as a framework for energy transition in Asia.
As Japan’s policy-based financial institution, JBIC will continue to actively support the creation of business opportunities for Japanese companies through strengthened cooperation with important partners in sectors such as decarbonization and infrastructure development, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry.
