Governor Abbott Signs Memorandum Of Understanding With Japan Bank For International Cooperation In Tokyo

September 27, 2019 | Tokyo, Japan | Press Release

Governor Greg Abbott today met with executives from the Japan Bank for International Cooperation (JBIC) in Tokyo, Japan. During the meeting, JBIC executed a Memorandum of Understanding (MOU) with the state of Texas to promote and encourage collaboration and development between the two regions. This MOU follows an agreement signed by Representative Director and Governor of JBIC Tadashi Maeda in August 2018 that will provide a loan amount of up to $300 million (USD) to Texas Central Rail Holdings, LLC. 

"I thank JBIC's leadership for continuing to work with the state of Texas to build upon our already strong relationship," said Governor Abbott. "With today’s MOU, we will foster greater investment in both Texas and Japan, while strengthening the economic and cultural bond between our two regions.”

Japan Bank for International Cooperation was established in 1999 as a state-owned financial institution aimed at developing economic cooperation with foreign countries. JBIC is a policy-based financial institution of Japan, and conducts lending, investment and guarantee operations while complementing the private sector financial institutions. The bank is focused on supporting international economic activities of Japanese companies. In October 2014, JBIC announced a loan agreement in project financing with FLNG Liquefaction, LLC (FLIQ) in relation to the Freeport LNG Project.