JBIC - Japan Bank for International Cooperation

01/14/2021 | Press release | Distributed by Public on 01/13/2021 23:05

JBIC Signs MOU with U.S. International Development Finance Corporation : Strengthening Cooperation for Promoting Collaborative Projects between Japan and the United States in a[...]

This MOU is intended to further strengthen the cooperation that has been developed between JBIC and USDFC as well as OPIC since the signing of the MOU in 2017. In addition to conventional sectors of cooperation such as infrastructure, energy, and natural resources, the MOU is also intended to support projects in sectors including power, hydrogen, digital connectivity, information and communications technology, as well as supply chain resilience in the Indo-Pacific, Middle East, Africa, the Western Hemisphere, and Central and Eastern Europe. The Governments of Japan and the United States regard these sectors as important from economic and strategic perspectives, and JBIC aims to further support, through the partnership with USDFC, the promotion of projects in which Japanese and U.S. companies participate. Also, structuring projects in the Indo-Pacific region will contribute, in particular, to achieving a 'Free and Open Indo-Pacific,' which is being promoted by the two governments. Further, such initiatives are expected to strengthen the relationship between Japan and the United States. Expectations for the partnership between USDFC and JBIC are rising in the United States. This was exemplified by the political view expressed in an Armitage-Nye report*3 of the Center for Strategic and International Studies (CSIS), an influential bipartisan thinktank, in which they stated their opinion that USDFC should partner with JBIC and lead infrastructure development in the Indo-Pacific region.