JBIC Signs MOU with State of Queensland of Australia
Strengthening Cooperation for Promoting Japanese Investments in Queensland

• Region: Oceania
• Energy and Natural Resources
• Infrastructures
• Environment

1. The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on November 25 a Memorandum of Understanding (MOU) with the Queensland Government of Australia to build a comprehensive strategic partnership.
     
2. The State of Queensland is endowed with a wealth of natural resources, including metallurgical coal^*1 for steelmaking, natural gas, base metals, and critical minerals. JBIC has established a strong relationship with the Queensland Government through, for example, supporting coking coal projects involving Japanese companies. The government intends to enhance cooperation with Japanese companies in broad sectors, such as critical minerals, alumina, biomass, food and agriculture, renewable energy, sustainable fuels, power grid, energy storage, infrastructure, and conventional energy.
     
3. The MOU is intended to establish a framework to strengthen the partnership between JBIC and the Queensland Government thereby encouraging Japanese companies’ investments in the region. It is a developmental outcome of the previous MOU that JBIC signed with the Queensland Government in December 2011.
     
4. Both Japan and Australia announced their goals of achieving carbon neutrality by 2050. Also, at the Japan-Australia leaders’ meetings on October 26, 2025, and the 3rd Asia Zero Emission Community (AZEC) Leaders Meeting held on the same day with both leaders participating, the Japanese and Australian Prime Ministers agreed to work more closely by further promoting decarbonization in Asia and strengthening the two countries’ energy security cooperation through the Asia Zero Emission Community (AZEC) concept for the realization of a Free and Open Indo-Pacific. Under these circumstances, JBIC’s strengthening of cooperation with the Queensland Government will contribute to Japanese companies creating business opportunities and promoting business in the region. It is also expected to further strengthen the Special Strategic Partnership between Japan and Australia promoted by the Japanese government.
     
5. 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 government institutions.
     

Note

1. *1 
   A type of coal that has physical properties which, when heated, cause it to soften, liquefy, and then resolidify into a harder substance known as coke, which is used as a material for steelmaking.