JBIC Signs MOU with Inter-American Development Bank and Inter-American Investment Corporation
Strengthening Cooperation in Critical Minerals, Sustainability, Social Infrastructure, and Supply Chain Resilience in Latin American and Caribbean Region

• Region: North America
• Energy and Natural Resources
• Infrastructures
• Environment

1. The Japan Bank for International Cooperation (JBIC; Governor: AMAKAWA Kazuhiko) signed on August 25 a memorandum of understanding (MOU) with the Inter-American Development Bank (IDB; President: Ilan Goldfajn) and the Inter-American Investment Corporation (IDB Invest; Chief Executive Officer: James P. Scriven) to strengthen cooperation on the occasion of the 50th anniversary of Japan’s membership in the IDB.
     
2. The IDB is an international development finance institution serving Latin America and the Caribbean region (LAC). As a member of the IDB Group, IDB Invest is focused on providing innovative financial solutions and advisory services to the private sector. In April 2023, JBIC signed an MOU^*1 with these organizations to develop a cooperative relationship in sectors such as sustainability, infrastructure, and supply chain resilience in LAC. The MOU signed this time is intended to further reinforce the cooperation among the three organizations by adding critical minerals to these cooperation sectors.
     
3. With respect to the critical minerals sector, JBIC has built a track record of supporting copper, lithium, and other mineral projects in LAC. Against the backdrop of enhancing economic security and supply chain resilience, the sector increasingly draws the attention of Japanese companies. JBIC identifies ensuring Japan’s energy security and strengthening the resilience of strategic value chains and supply chains that serve the national interest as one of its action plans in the Fifth Medium-term Business Plan released in June 2024. The signing of the MOU with the IDB and IDB Invest aligns with the action plans. JBIC aims to advance support for potential critical minerals and other projects in LAC by sharing knowledge and expertise with the organizations and leveraging their strong networks.
     
4. As Japan's policy-based financial institution, JBIC will continue to support the creation and promotion of business opportunities for Japanese companies while closely collaborating with international financial institutions.
     

Note

1. *1 
   See Press Release on April 24, 2023.