The Japan Bank for International Cooperation (JBIC) and the Overseas Private Investment Corporation (OPIC) on Tuesday welcomed Indian companies to be a part of their projects in the Indo-Pacific region.
Representatives from both organisations jointly announced the signing of a memorandum of understanding between Japan and the US which would bolster investments in energy and infrastructure and connectivity such as ports.
Addressing a gathering of media persons on the sidelines of the US India Business Council’s ‘Foundations of Innovation’, JBIC regional head for Asia and Pacific Tsuyoshi Nishitani said that economies of Japan, the US and India account for nearly 30 % of the world economy. He also said that the three countries are partners in the Indo-Pacific region and share fundamental values such as freedom, democracy and rule of law.
“JBIC recognises that it is extremely significant that Japan, US and India extend cooperation for stability and prosperity of the Indo-Pacific region. Under the MoU, JBIC and OPIC promote project for such countries in which US and Japanese companies participate. JBIC and OPIC welcome Indian companies to join these projects,” Mr. Nishitani said.
