- Region: Europe
- Energy and Natural Resources
- Infrastructures
-
Japan Bank for International Cooperation (JBIC; Governor: AMAKAWA Kazuhiko) signed on October 15 a Memorandum of Understanding (MOU) with the European Investment Bank (EIB; President: Nadia Calviño), on the occasion of the Annual Meetings of the International Monetary Fund and the World Bank Group.
-
EIB is the financing arm of the European Union (EU), providing long-term financing and expertise for projects that contribute toward economic integration and balanced development both in Europe and beyond.
-
JBIC and EIB signed an MOU*1 to promote cooperation both within and outside the EU in October 2018, at the Japan-EU High-Level Dialogue for Industry, Trade and Economy. They also updated the MOU*2 in October 2021 to facilitate projects involving Japanese and European companies in areas such as carbon neutrality, infrastructure, and innovation. Following these MOUs, JBIC and EIB have continuously engaged in discussions at various levels to identify specific areas of collaboration and enhance cooperation.
-
The newly signed MOU is intended to further strengthen the cooperative relationship that JBIC and EIB have built over the years. Specifically, these two financial institutions aim to promote collaboration, including co-financing for projects expected to involve Japanese and EU companies in such areas as economic security, particularly the strengthening of critical mineral supply chains, and the recovery and reconstruction of Ukraine.
-
As Japan's policy-based financial institution, JBIC will continue to actively support the creation and promotion of business opportunities for Japanese companies and contribute toward the further development of economic relations between Japan and the EU, by collaborating closely with these overseas public financial institutions.
Note
- *1
- *2