Amendment of MOU between NEXI and EBRD

Nippon Export Investment Insurance (NEXI; Chairman and CEO: Atsuo Kuroda) has concluded an amended Memorandum of Understanding (MOU) with the European Bank for Reconstruction and Development (EBRD; President: Odile Renaud-Basso), which was originally signed in October 2020¹ and was amended to enhance cooperation including in Ukraine. The amended MOU was signed in advance and exchanged by the EBRD’s Director and Head of Tokyo Representative Office Shin Oya and NEXI’s Chairman and CEO Atsuo Kuroda at the Japan-Ukraine Conference for Promotion of Economic Reconstruction on February 19 in the presence of Prime Minister Kishida of Japan and Prime Minister Shmyhal of Ukraine.

Provided by Keidanren

Even after the Russian invasion to Ukraine in February 2022, NEXI has maintained its underwriting policy open for Ukrainian businesses and continues to support export to and investment in Ukraine, as well as participating in a joint statement by the export credit agencies (ECA) of G7 countries in January 2023 in support of Ukraine².

Given that the EBRD is an international organization which has been actively providing support for reconstruction of Ukraine focusing on the maintenance of infrastructure, both institutions are to exchange information and discuss collaboration on potential projects in Ukraine under the amended MOU. NEXI also aims to discuss various opportunities of future cooperation with the EBRD, taking into account that Trade Insurance Law was amended in July 2022 to enable NEXI to provide loan insurance to international organizations.

NEXI will continue to strengthen its relationship with ECAs and international organizations including the EBRD, with the aim of supporting the reconstruction of Ukraine and solving global issues.

About EBRD

The European Bank for Reconstruction and Development (EBRD) is an international financial institution founded in 1991, by treaty in 1990 to foster the transition towards open market-oriented economies and to promote private and entrepreneurial initiatives in Central and Eastern Europe, Middle East, North Africa, and Central Asia. Headquartered in London, the EBRD is owned by 72 countries, as well as the European Union and the European Investment Bank.

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