The Japan Bank for International Cooperation (JBIC) has signed a memorandum of understanding (MOU) with the Sustainable Energy Association of Singapore (SEAS) to promote Clean Development Mechanism projects in Singapore. The agreement will support Japanese firms in acquiring emission reduction credits generated from such projects.


Under the agreement, SEAS will provide information on potential CDM projects to JBIC. JBIC will offer the information to interested Japanese firms and to Japan Carbon Finance Ltd. JBIC will also examine possible financial support and give advice on projects on which information has been provided.


SEAS, a non-profit organization established under the initiative of the Singaporean Ministry of the Environment and Water Resources, is responsible for energy saving and renewable energy projects, as well as for the promotion of CDM.  Cooperation between JBIC and SEAS is expected to help accelerate the realisation of CDM projects.


JBIC is committed to supporting the Kyoto Mechanisms and has signed agreements to promote CDM projects in El Salvador, Sri Lanka, Thailand, Malaysia and Indonesia in recent months