The European Investment Bank (EIB) and the Japan Bank of International Cooperation has signed an agreement to increase cooperation on infrastructure investments.
The multilaterals first signed a memorandum of understanding in 2018 to cooperate on projects, but under the new expanded version they will seek to identify co-financing opportunities in the transport, energy, climate and digitalisation sectors.
Targeting projects in Asia, Africa and the EU, the deals will also seek to finance more innovative projects such as subsea interconnectors, battery storage facilities and hydrogen projects.
The EIB’s vice president Ambroise Fayolle said the deal will “further our cooperation and unlock new, more affordable financing for investments in sectors key to the success of global climate action, faster COVID-19 recovery and sustainable development”.