The Japan Bank for International Cooperation (JBIC) has signed a declaration of intent (DOI) for comprehensive strategic partnerships with the South African government.


The DOI’s objective is to provide comprehensive support via a selection of JBIC’s financing facilities for power generation, transmission, distribution infrastructure; and the improvement of transportation infrastructure undertaken by the South African government and its agencies under the Accelerated and Shared Growth Initiative for South Africa (ASGISA). The provisions of the DOI include the exchange of views and information regarding the projects.


These projects constitute indispensable elements of a better business environment for the Japanese affiliates engaging in local business operations in South Africa.


South Africa is regarded as a strategically important country, as they are the suppliers of vital mineral resources for Japanese industry, as well as a Japanese business investment destination. JBIC has supported infrastructure development for economic growth in South Africa, Japanese exports of machinery and equipment to the country, and the business development of Japanese affiliates.


The signing of this DOI will support South Africa in addressing its important policy agenda, and is thus expected to lead to closer economic relations between Japan and South Africa.