May 23, 2022: Today, the U.S. Trade and Development Agency (USTDA) and the Japan Bank of International Cooperation (JBIC) announced a new partnership to advance high-quality infrastructure in emerging economies around the world. The partnership was announced during President Joe Biden’s visit to Tokyo.
“USTDA and JBIC are partnering to develop climate-smart infrastructure that can be financed, implemented and sustained,” said Enoh T. Ebong, USTDA’s Director. “Our collaboration will advance the development of resilient, quality infrastructure in our partner countries, while increasing U.S. and Japanese industry engagement in these projects.”
The partnership was commemorated through the signing of a memorandum of cooperation (MOC) in support of the second Leaders’ Summit of the Quad, which included President Joe Biden, Prime Minister Anthony Albanese of Australia, Prime Minister Narendra Modi of India, and Prime Minister Fumio Kishida of Japan.
The MOC creates a framework for strengthened USTDA and JBIC collaboration on project preparation and financing to help implement sustainable infrastructure priorities identified under the Quad. Shared goals highlighted under the MOC include supporting climate-smart infrastructure investments that promote green, sustainable, and resilient infrastructure, as well as providing support for project preparation to ensure the bankability of infrastructure projects.
Mr. Maeda Tadashi, JBIC’s Governor, said: “JBIC and USTDA share a commitment to strengthening the energy security and economic security of emerging economies around the world. Our partnership will leverage the complementary resources of two agencies that are recognized global leaders in their respective fields and advance infrastructure projects in which both Japanese and U.S. companies can participate.”
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USTDA, JBIC Formalize Global Partnership on Infrastructure Submission Details
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