The US Overseas Private Investment Corp. (OPIC), the Japan Bank for International Cooperation (JBIC), and the Australian government have formed a trilateral partnership to invest in Indo-Pacific infrastructure projects. Officials from the three countries announced their plans on July 30 during the US Chamber of Commerce’s Indo-Pacific Business Forum.
“We share the belief that good investments stem from transparency, open competition, sustainability, adhering to robust global standards, employing the local workforce, and avoiding unsustainable debt burdens,” OPIC Pres. Ray W. Washburne, JBIC Gov. Tadashi Maeda, and Australian Embassy Charge d’Affaires Katrina Cooper jointly said.
“We will uphold these principles as we mobilize investment in infrastructure—such as energy, transportation, tourism, and technology—that will help stabilize economies, enhance connectivity, and provide lasting benefits throughout the region,” they said.
The officials announced plans for a future formalized memorandum of understanding. OPIC also announced that it will place a staff member in the US Embassy in Tokyo to better facilitate cooperation.
OPIC convened the first trilateral meeting on the project on July 17 in Singapore, where it formalized the partnership, and has held continues dialogues to enhance cooperation in the time since. It currently has $4 billion invested across the Indo-Pacific in projects to expand access to energy, education, and financial services, and to support local farmers.
Contact Nick Snow at [email protected].
