The European Bank for Reconstruction and Development (EBRD) and Japanese insurance corporation Nippon Export and Investment Insurance (NEXI) have signed a Memorandum of Understanding to combine their expertise in green financing.
EBRD and NEXI will explore and develop new mechanisms to develop economies in regions where both organisations operate.
A particular area of focus for this cooperation will be support for the development of sustainable infrastructure, reflecting the high priority that both institutions place on the topic.
This is in line with the EBRD’s Green Economy Transition approach, which has taken the Bank’s green investments to more than 40% of annual investment last year and is set to exceed 50% by 2025.
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Jürgen Rigterink, the EBRD Acting President, said: “This agreement will help increase business ties, investments in the green economy and the flow of trade.”
NEXI is the official export credit agency of Japan and is wholly owned by the government. It conducts insurance business, covering risks which arise in foreign transactions carried out by Japanese companies not covered by commercial insurance.
The EBRD promotes private sector development and sustainable and inclusive growth through a combination of investment, policy engagement and technical assistance.