EBRD and Japan’s JBIC strengthen cooperation
The Japan Bank for International Cooperation (JBIC) and the European Bank for Reconstruction and Development (EBRD) are stepping up their cooperation to support the economic development and energy transition of regions of common interest.
EBRD President Odile Renaud Basso and JBIC Governor Hayashi Nobumitsu signed a memorandum of understanding on the enhanced cooperation between the EBRD and JBIC in Washington, DC, on the sidelines of this year’s World Bank Group and International Monetary Fund Annual Meetings.
Under the agreement, the two organisations will support economic and social development in common regions of operation, such as countries in central and eastern Europe, Central Asia and the southern and eastern Mediterranean, Particular attention will be paid to developing co-financing opportunities for projects related to the energy transition, digital transformation, and inclusion.
The agreement builds on the successful cooperation between the EBRD and JBIC to date and reflects the organisations’ common goals of promoting the resilience and green transformation of the economies in which the EBRD works. To further unlock Japanese investment in the EBRD regions, the two institutions will also cooperate on business development activities with Japanese firms.
Japan is a founding shareholder of the EBRD and an important contributor to the Bank's work. Its companies are significant sources of financing for many of the economies in which the EBRD operates.
JBIC, wholly owned by the Japanese government, has a mandate to contribute to the sound development of Japan and the international economy and to support the overseas activities of Japanese companies.
