Signing Memorandum of Understanding with the African Development Bank

Nippon Export and Investment Insurance (NEXI, Chairman and CEO: Atsuo Kuroda) has signed a Memorandum of Understanding (MOU) with the African Development Bank (AfDB, Vice President: Hassatou N’Sele).

The MOU was announced at the Third JAPAN AFRICA Public-Private Economic Forum held on December 16, 2024, in Abidjan, Côte d’ Ivoire by Ms. Cecile Ambert, Manager of the Syndication and Cofinancing Division from AfDB, and Mr. Kazuki Hondo, Senior Managing Executive Officer from NEXI.

(Photo provided by Japan External Trade Organization (JETRO))

AfDB and NEXI have worked together on several occasions including projects in Arab Republic of Egypt and Republic of Mozambique.
Additionally, a consultation service for Japanese companies called “Japan Desk” was established at AfDB, following its participation at TICAD7 in 2018.

The purpose of this MOU is to recognize the achievements of the cooperation between NEXI and the AfDB Group in various projects up to this point, to confirm the importance of mobilizing private investment and financing from Japan and third countries to promote sustainable economic development in Africa and strengthen the cooperation in information sharing and joint promotion of business opportunities on trade and investment by Japanese companies in Africa.

This MOU will further enhance the collaboration of both institutions in the areas of clean energy technologies such as hydrogen/ammonia, renewable energies, infrastructure such as railways, roads, desalination plants, waste treatment plants, hospitals, ICT infrastructure, mining and critical minerals, agriculture, industrial sector such as automobiles and consumer goods, and start-up companies of Japan and local/foreign partners to contribute to social and economic development.

For AfDB, opting for an MOU with institutions such as NEXI provides an opportunity to evolve its relationship with ECAs from an opportunistic to a more programmatic one, where the two entities will exchange information on project pipeline and portfolio. It will also provide AfDB with a platform to showcase the Africa region as an investment destination to Japanese companies, investors and lenders.

NEXI will continue to actively support the overseas business development of Japanese companies, as well as their exports, investments and lending into developing countries, including Africa, by enhancing cooperation with international, national, and regional financial institutions.

（Reference）

Official Name	African Development Bank (AfDB)
Establishment	1964
Location	01 B.P, 1387 Abidjan 01 Cote d’ Ivoire
Business Contents	Provides non-concessional loans to middle-income countries and private sector projects.

Contact:
International Relations Group, Planning and Policy Department
Tel: +81-(0)3-3512-7665