OYA, Senior Managing Director of JBIC (left), Mr. Barrow, Director General of ADB, Private Sector Operations Department (right) The Japan Bank for International Cooperation (JBIC) held meetings with the Asian Development Bank (ADB) from February 17 to 19, 2020, to discuss the sustainable development of environmental infrastructure projects. Participants from ADB included the Director General level of the Sustainable Development and Climate Change Department; the Private Sector Operations Department; the Strategy, Policy, and Partnerships Department and other regional departments.
JBIC signed a Memorandum of Understanding (MOU) with ADB in November 2015 to promote the quality of infrastructure investment in the Asia-Pacific region. JBIC conducts regular meetings with ADB to share its experience and know-how in the sectors of infrastructure and renewable energy, as well as to exchange views on project development in such sectors. During this round of meetings, in accordance with the MOU, JBIC provided information about various potential projects and discussed the possibility of financing such projects in collaboration with ADB.
At the G20 Osaka Summit held in June 2019, the G20 leaders agreed to the "Osaka Blue Ocean Vision," which has the goal of reducing marine plastic litter pollution to zero by 2050. In order to achieve this initiative, the Japanese government presented its policy for building the capability of waste disposal management in developing countries and establishing the necessary infrastructure in such countries. In its "Free and Open Indo-Pacific Vision," the government also promotes improved regional connectivity between ASEAN and Indo-Pacific nations, emphasizing that collaborations with various countries in the region is becoming increasingly important.
ADB has launched a new long-term corporate strategy, "Strategy 2030," which designates small island developing states as priority countries. In addition, ADB indicated its intention to strengthen its efforts to improve the marine environment in the "Healthy Ocean Action Plan" released in May 2019. Another ADB medium-term strategy announced by its Private Sector Operations Department in February 2020 highlights its response to climate change issues, the improvement of environmental sustainability as well as the importance of support for island states.
In light of these circumstances, JBIC discussed with ADB about developing pilot projects that are expected to help improve the environment in island states through the introduction of Japanese technology while exchanging opinions about further cooperation in future projects.
As Japan's public financial institution, JBIC will continue to provide financial assistance to promote investment in quality infrastructure in the Asia-Pacific region.
JBIC's delegation members and staff of ADB's Private Sector Operations Department