The European Investment Bank (EIB), the bank of the European Union, and Japan Bank for International Cooperation (JBIC) have agreed to further expand cooperation on a range of globally relevant investments across the globe. This includes identifying co-financing opportunities for infrastructure connectivity (transport, energy and digitalisation) and projects contributing to carbon neutrality in the European Union, such as subsea interconnectors, offshore wind plans, battery storage facilities and hydrogen technology development. In Asia, Africa and the EU neighbouring countries, the EIB and JBIC have agreed to cooperate on co-financing of connectivity (transport, energy and digital) projects.

The two banks will also cooperate on developing innovative projects across the globe relevant to implementation of UN sustainable development goals (SDGs), including investment in projects on sustainable oceans and the prevention of marine pollution.

The agreement was formalised by expanding the Memorandum of Understanding (MoU) signed between JBIC and the EIB in 2018. EIB Vice-President Ambroise Fayolle and Deputy Governor of JBIC Nobumitsu Hayashi signed the new, extended MoU on 22 October 2021.

Source: Delegation of the European Union to Japan