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.
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