WASHINGTON, D.C. – The U.S. International Development Finance Corporation (DFC) and the Japan Bank for International Cooperation (JBIC) renewed their bilateral memorandum of understanding (MOU) in recognition of shared U.S. and Japanese achievements in driving sustainable economic growth in the Indo-Pacific over the past three years, while also acknowledging that urgent issues remain.
“Collaboration with other DFIs is so important,” CEO Scott Nathan said. “JBIC is a valued partner of DFC. With the renewing of this MOU, we have a blueprint for transforming our shared values into coordinated action, so that together, we more efficiently and effectively pursue infrastructure investments in the Indo-Pacific, and beyond.”
CEO Nathan was joined by Hiroki Sekine, Managing Executive Officer and Global Head of Infrastructure and Environment Finance Group, who signed the MOU.
The renewal of the agreement, last signed in January 2021, will allow DFC and JBIC to scale investments that target mutually determined fields, including quality infrastructure, energy transition, and supply chains—particularly for critical minerals. The MOU contributes to DFC’s mission of advancing the administration's top initiatives for the region, including the U.S.’ Indo-Pacific Strategy, the Indo-Pacific Economic Framework for Prosperity, and the Partnership for Global Infrastructure and Investment.
The agreement was signed on the sidelines of the White House Official Visit for Prime Minister Fumio Kishida of Japan, as well as on the margins of the U.S.-Japan-Philippines Trilateral Leaders’ Summit, attended by Prime Minister Fumio Kishida of Japan and President Ferdinand R. Marcos Jr. of the Philippines.
Since signing the last MOU in 2021, DFC has worked to employ its relationship with JBIC to form new partnerships, including an MOU between DFC, JBIC, and Australia (DFAT & EFA) in October 2022 and the MOU between DFC, JBIC, and Korea (KEXIM) in August 2023.
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The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.