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The Japan Bank for International Cooperation (JBIC) signed a memorandum of understanding (MoU) with Egypt’s Ministry of International Cooperation to strengthen the strategic partnership in a variety of sectors including decarbonisation.
The signing took place on Sunday on the sidelines of the Japan-Egypt Summit in Egypt, JBI said in a statement on Monday.
The MoU aims to support Japanese companies expanding their business in a wide range of sectors including decarbonisation, such as renewable energy, hydrogen, and ammonia, by strengthening the partnership between JBIC and the Egyptian and in line with the state-driven Nexus of Food, Water and Energy (NWFE) programme, the Decent Life Initiative, and the Sustainable Development Goals (SDGs).
The signing of the MOU is in line with the Medium-term Business Plan and ESG Policy of JBIC, which aims to reduce the Bank’s operational GHG emissions to net zero by 2030 and achieve net zero emissions of its finance portfolio by 2050, the statement noted.
(Writing by SA Kader; Editing by Anoop Menon)
