Japan Bank for International Cooperation (JBIC) and the Asian Development Bank (ADB) has signed a memorandum of understanding (MOU) for strategic partnership including contributions to ‘ESDA: Enhanced Sustainable Development for Asia’, an initiative launched by the Government of Japan at the ADB’s Annual Meeting in Kyoto.

This MOU aims at building a strategic partnership for contributing to ESDA with a particular focus on investment climate improvement, regional cooperation and energy efficiency etc by jointly conducting: development and implementation of projects and programs including co-financing; development and implementation of sectoral policies and studies; design and implementation of economic and institutional reforms including capacity building activities in developing member countries of the ADB; joint evaluations of projects; and so on.

Also, as part of the joint contributions to ESDA, JBIC and ADB will jointly prepare detailed frameworks of the “ACFA: Accelerated Co-Financing scheme with ADB “Under ACFA, JBIC ODA loans and ADB will, in light of the common assistance policies to be discussed between the Government of Japan and ADB, identify co-financing projects in line with ESDA objectives, targeting mainly on Central Asia and Caucasus, Pacific region, and so on.

By working jointly with ADB in a harmonised manner in accordance with the Paris Declaration on Aid Effectiveness, it is expected that JBIC ODA loans can swiftly and efficiently make contributions to the Asian region by making best use of knowledge, experience and regional networks of ADB.