The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on August 4 a memorandum of understanding (MOU) with the Ministry of Energy of the Republic of Chile (Chile). The objectives of the MOU include promoting cooperation in sectors that use hydrogen and ammonia as a fuel source.
Aiming to achieve carbon neutrality in 2050, Chile developed "National Green Hydrogen Strategy" in November 2020. In this strategy, Chile aims to formulate a structure of producing the world's most affordable green hydrogen by 2030 and become one of the world's leading exporters of green hydrogen by 2040. Also, in the Fourth Medium-term Business Plan, released in June 2021, JBIC aims to respond to energy transformation toward the realization of a decarbonized society and is focusing on the field of hydrogen and ammonia.
In Chile, many companies, including Japanese companies, are developing the hydrogen and ammonia business, with a focus on renewable energy sources, which are abundant in the country. With this MOU between JBIC and the Ministry of Energy of Chile, under which the framework for collaboration between the two organizations is to be developed, JBIC aims to contribute toward Chile’s efforts for achieving carbon neutrality and accelerates the structuring of projects for developing the supply chain of hydrogen and ammonia.
As Japan's policy-based financial institution, JBIC will continue to contribute toward creating business opportunities for Japanese companies and securing a stable supply of resources for Japan through strengthened cooperation with important partners in the decarbonization sector.
