NEXI signs MOU with MUFG on Accelerating Blended Finance in Asia
Nippon Export and Investment Insurance
Nippon Export and Investment Insurance (NEXI; Chairman and CEO: Atsuo Kuroda) and MUFG Bank, Ltd. (MUFG; President & CEO: Junichi Hanzawa) have signed a Memorandum of Understanding (MOU) aiming to establish a blended finance* scheme to support projects that are aligned with philosophy of the Asia Zero Emission Community (AZEC).
The signing ceremony took place on June 5, 2023 during ASEAN-Japan Business Week 2023, which was held from June 5 to June 9.
This MOU aims to promote the efforts by the two institutions to cooperate to establish a finance scheme utilizing blended finance to promote energy transition in Asia, with future goal set for initiatives toward economic and social issues such as poverty eradication, sustainable economic development, and stable supply of energy. The two institutions will also consider the framework under the debt fund scheme to introduce public and private capital required for decarbonization based on the circumstances of each country.
The Japanese government has announced the Asia Zero Emission Community (AZEC) Initiative to enhance cooperation with other Asian countries in promoting energy transition and is leading the discussion on Asia’s decarbonization and economic growth with considerations to the regional circumstances. The government has also developed the Asia Energy Transition Initiative in which it strives to provide a variety of solutions to achieve decarbonization in Asia. This MOU aligns with these initiatives led by the Japanese government.
NEXI will continue to actively support Japanese companies to expand their global business and contribute to tackling climate change and other social issues, by reinforcing collaboration with external organizations and institutions including private financial institutions and applying various private capital resources.
* Blended finance is a finance methodology which uses a strategic mix of public fund and private capital. It is expected to be an effective tool in approaching the financial needs in emerging market.
| Official Name | MUFG Bank, Ltd. |
| Representative | President & CEO, Junichi Hanzawa |
| Website | https://www.bk.mufg.jp/ |
Contact: Solution Service Group, Structured and Trade Finance Insurance Department
Tel: +81-(0)3-3512-7744