OPIC CEO travels to Japan; Signs Commitments with JBIC and NEXI Supporting Investment in Emerging Markets
November 7, 2017
(OPIC)
TOKYO, JAPAN –Overseas Private Investment Corporation (OPIC), the U.S.
Government’s development finance institution, President and Chief Executive
Officer Ray W. Washburne today signed Memorandums of Understanding (MOU) with
Japan Bank for International Cooperation (JBIC) Chief Executive Officer and
Executive Managing Director Tadashi Maeda and Nippon Export and Investment
Insurance (NEXI) Chairman and Chief Executive Officer Kazuhiko Bando
highlighting their commitment to tackling development challenges and bolstering
investment in infrastructure, energy and other critical sectors throughout Asia
and the Indo Pacific, the Middle East, and Africa. U.S. Ambassador to Japan
William F. Hagerty and State Minister of Economy, Trade, and Industry Kosaburo
Nishime officiated at the signing ceremony.
During his remarks on November 6 in Tokyo to American and Japanese business
leaders, President Donald J. Trump stated that the agreements are “a major
development that will advance our shared interests in the region.”
Each MOU develops a framework for cooperation between the agencies to bolster
support for investment in emerging markets by mutually collaborating on projects
that meet policy objectives and by coordinating business development efforts.
“These agreements will allow us to have a broader impact while strengthening
the continued work between the U.S. and Japan,” Mr. Washburne said. “Through
focusing on infrastructure and energy projects around the globe, we can enhance
the position of our respective private sector companies in an increasingly
competitive global market.”
The MOUs follow the recent Japan-U.S. Economic Dialogue, when the Governments of
Japan and the U.S. committed to bolster energy and infrastructure projects in
emerging markets. To date, OPIC, JBIC, and NEXI have coordinated support for
several projects together including a 370MW natural gas-fired power in Jordan
and a private equity fund supporting the renewable energy value chain in India
and South Asia.
From Tokyo, Mr. Washburne is traveling to Vietnam in conjunction with President
Trump’s visit to the Asia-Pacific Economic Cooperation Chief Executive Officer
Summit.
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