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News: September 2010


Source: EBRD, 16.09.2010

The EBRD and Japan Bank for International Cooperation (JBIC) are enhancing ties to support economic and social development in central and eastern Europe, Russia, the Caucasus and central Asia, with a special focus on energy efficiency and climate related projects.

A Memorandum of Understanding to this effect was signed today in London by EBRD President, Thomas Mirow, and the Deputy President of JBIC, Yoshihiko Morita.

Reflecting the strategic priority of promoting energy efficiency and climate change mitigation for the two institutions, the document outlines the opportunities for collaboration between the EBRD and JBIC.

Under the Memorandum, the EBRD and JBIC will cooperate in the co-financing of environmental projects, the development of carbon emission reduction instruments, co-financing of large infrastructure and corporate projects, non-sovereign financing of municipal infrastructure, in particular linked to climate related projects, as well as local currency financing in the region.

“Our cooperation with JBIC has great potential. In sharing and combining the expertise of the two institutions we will develop environmental financing channels and have a positive impact on investment in our countries of operations” said EBRD President, Thomas Mirow.

“Collaborating through sharing knowledge and expertise with the EBRD, we will further strengthen its support for environmental projects and trade and investment activities of Japanese businesses in the countries where EBRD works,” said Deputy President of JBIC, Yoshihiko Morita.