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IDB Group agrees with JICA to promote quality infrastructure

The agreement was signed by IDB President Luis Alberto Moreno, IDB Invest CEO James P. Scriven, and JICA Senior Vice President Shigeru Maeda.


IDB Japan
Updated: 26-03-2018 09:12 IST
IDB Group agrees with JICA to promote quality infrastructure

The partners intend to closely align future efforts with the Co-financing for Renewable Energy and Energy Efficiency (CORE) program. (Image credit: IDB)

The Inter-American Development Bank (IDB), the IDB Group's private sector institution IDB Invest and the Japan International Cooperation Agency (JICA) formalized a Memorandum of Cooperation to jointly promote quality infrastructure and co-finance eligible projects for the private sector.

The agreement was signed by IDB President Luis Alberto Moreno, IDB Invest CEO James P. Scriven, and JICA Senior Vice President Shigeru Maeda. The signing took place in the presence of Mr. Kenichiro Ueno, State Minister of Finance of Japan, during the Annual Meeting of the Boards of Governors of the IDB and IDB Invest.

The agreement builds upon the longstanding collaboration between the IDB Group and JICA, and the partners' shared commitment to finance quality infrastructure in Latin America and the Caribbean. The partners intend to closely align future efforts with the Co-financing for Renewable Energy and Energy Efficiency (CORE) program originally established in 2012 between JICA and the IDB, as well as the Japan Quality Infrastructure Initiative (JQI) created in 2016.

The collaboration between IDB Invest and JICA will prioritize co-financing private sector infrastructure projects, expanding on the work between the IDB Group and JICA in energy to include transportation and water and sanitation. The signing of this MOC is also significant as the first-ever agreement signed between JICA and IDB Invest, the IDB Group's newly rebranded private sector institution.

(This is a reproduced IDB news as it is. Devdiscourse bears no responsibility towards grammatical or factual errors that may have been presented in the report.)

COUNTRY : Japan

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