Source: European Investment Bank
Cooperation between The European Investment Bank (EIB) and the Japanese International Cooperation Agency (JICA) is expanding. The two organizations will aim to work together on a range of globally relevant issues – for example: transport, quality infrastructure investment, microfinance and renewable energy sources. EIB and JICA will also cooperate on technical assistance/project preparation and create synergies and exchanges at the level of their local offices to extend the positive impact of their work.
A Memorandum of Understanding, paving way for this cooperation, signed on 26 September in Brussels, will allow EIB and JICA to work on co-financing and co-investment opportunities in projects conducted in developing countries. Their work will be aligned with the “G20 Principles for Quality Infrastructure Investment” endorsed at the G20 Osaka Summit in June 2019.
EIB already collaborates with JICA on individual projects in Sub-Saharan Africa where they recently co-invested in a women-focussed microfinance fund; the fund aims to improve economic and living conditions for women-entrepreneurs and their families.
A New Chapter in EIB-Japan Relationships
The EIB-JICA Memorandum of Understanding signed on 26 September in Brussels, as a part of the EU-Asia Connectivity Forum; the MoU strengthens ties between the European Union and Japan through closer cooperation between the two partners.
The document complements the two MoUs signed in 2018 during the first EU-Japan “HED – high level industrial, trade and economic dialogue”, as part of the Strategic Partnership Agreement and the Economic Partnership Agreement between Japan and the EU, one with the Japanese Bank for International Cooperation (JBIC), the other with Nippon Export and Investment Insurance (NEXI). The two documents signed in 2018 enhance cooperation, knowledge and expertise sharing between EIB and JBIC/NEXI in innovation and environment.
JICA contributes to the promotion of international cooperation as well as the sound development of the Japanese and global economy through support for socioeconomic development, recovery or economic stability of developing regions in the world.
The Key EIB-Japan Partnership Milestones
October 2018 EU-Japan “HED – high level industrial, trade and economic dialogue”
October 2018 Strategic Partnership Agreement and the Economic Partnership Agreement between Japan and the EU
October 2018 MoU with the Japanese Bank for International Cooperation (JBIC)
October 2018 MoU with Nippon Export and Investment Insurance (NEXI)
August 2019 Co-Financing of women-focussed micro-finance fund in Sub-Saharan Africa