📋 Tender Overview
The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on March 24 a Memorandum of Understanding (MOU) on strategic cooperation with Keppel Infrastructure Holdings Pte. Ltd. (Keppel Infra), a Singaporean company. The objectives of the MOU include promoting cooperation to establish a clean energy supply chain within the Asia region.
Keppel Infra is the core company of the infrastructure division of the Keppel Group, a Singaporean conglomerate. The group operates in a wide range of fields, including energy, telecommunications, and asset management, throughout the world and especially in Asia. The MOU aims to strengthen the partnership between JBIC and Keppel Infra to enhance green transformation (GX) and digital transformation (DX) in sectors such as renewable energy, transmission lines, including inter-regional interconnection, hydrogen and ammonia, data centers, and international telecommunications cables. As Japanese companies focus on realizing a sustainable, decarbonized society, strengthening the relationship with Keppel Infra, Asia's leading player in these fields, will drive their business expansion.
In the Fifth Medium-Term Business Plan, released in June 2024, JBIC aims to contribute toward realizing both carbon neutrality and economic growth. In addition, in its ESG Policy, released in October 2021, it is committed to pursuing ambitious and accelerated efforts to reduce its operational GHG emissions to net zero by 2030 and achieving net zero emissions in its finance portfolio by 2050. The ESG Policy states that JBIC will contribute toward realizing global carbon neutrality by supporting and accelerating energy transitions toward a decarbonized society in emerging and developing countries. The signing of the MOU is in line with the Medium-Term Business Plan and the ESG Policy of JBIC.
In January 2022, the government of Japan proposed the concept of the Asia Zero Emission Community (AZEC), a framework to provide support and cooperation for efforts for energy transition by Asian countries by leveraging the strengths of Japanese companies, such as their technology and expertise. Singapore is an important partner country in the AZEC framework, and the signing of the MOU is in line with the policy of the Japanese government.
As Japan's policy-based financial institution, JBIC will continue to contribute toward creating business opportunities for Japanese companies and maintaining and improving the international competitiveness of Japanese industry through strengthened cooperation with important partners in the decarbonization sector.
