JBIC Signs MOU with ICIEC : Promoting Cooperation to Create Business Opportunities between Japan and Islamic Nations by Supporting Five Central Asia Countries

• Region: Asia
• Environment

1. The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on August 8 a Memorandum of Understanding (MOU) with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) to promote support for structuring environmental preservation projects, taking the opportunity of the "Central Asia plus Japan" business forum held in Astana, the Republic of Kazakhstan.
   
2. ICIEC was established under the auspices of the Islamic Development Bank (IsDB) Group, with which JBIC has an MOU on business cooperation^*1. It is an international financial institution that underwrites insurance in compliance with Islamic laws, facilitating the investment of Middle Eastern countries in Central Asia. The MOU aims to strengthen the cooperative relationship between JBIC and ICIEC in the environmental preservation sector in the region including five Central Asia countries^*2.
   
3. This MOU is expected to contribute toward developing the relationship between Japan and Islamic nations by supporting five Central Asia countries, with the goals of creating business opportunities for Japan and realizing sustainable development in the region.
   
4. As Japan's policy-based financial institution, JBIC will continue to support the creation of business opportunities for Japanese companies in Central Asia while closely collaborating with international financial institutions.
   

Note

1. See press release on August 29, 2016.
2. Republic of Kazakhstan, Republic of Uzbekistan, Turkmenistan, Republic of Tajikistan, and Kyrgyz Republic.