WASHINGTON –The U.S. International Development Finance Corporation (DFC), the Japan Bank for International Cooperation (JBIC), and the Export-Import Bank of Korea (Korea Eximbank) today signed a Memorandum of Understanding (MOU) to strengthen cooperation to mobilize financing for quality infrastructure, including information and communications technology (ICT), carbon neutrality, and resilient supply chains in the Indo-Pacific and beyond. DFC CEO Scott Nathan joined JBIC Senior Managing Director Tanimoto Masayuki and Korea Eximbank Chairman Hee-Sung Yoon on the margins of the U.S.-Japan-Republic of Korea trilateral summit for the signing ceremony.
“Like JBIC and Korea Eximbank, DFC is committed to unleashing the power of private capital to meet the need for high-quality infrastructure projects in the Indo-Pacific region,” said DFC CEO Scott Nathan. “With this MOU, we have a blueprint for transforming our shared values into coordinated action and actual infrastructure investments that promote sustainable development and prosperity.”
The MOU provides a platform for DFC, JBIC, and Korea Eximbank to collaborate to catalyze private sector investment in infrastructure to meet growing needs, especially in the Indo-Pacific. The MOU will also strengthen cooperation among the three institutions, affirming their intention to cooperate not only on infrastructure, but on decarbonization and resilient supply chains.
The MOU focuses on delivering financially sustainable, transparent investment in ICT, energy, and transportation infrastructure. The participants also intend to support investment aimed at advancing carbon neutrality by supporting investment in small module reactors and resilient supply chains.
In line with the objectives of the U.S.-Japan-Republic of Korea trilateral summit, the MOU seeks to advance economic cooperation between the United States, Japan, and the Republic of Korea; and enhance economic development in the Indo-Pacific. The MOU supports the U.S. mission to foster resilience, sustainability, and inclusiveness; promote economic prosperity; and support resilient supply chains.
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, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.