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GEF and JBIC Sign Memorandum of Understanding on Climate Change and Biodiversity

24 May 2008: The Global Environment Facility (GEF) and the Japan Bank for International Cooperation (JBIC) signed a Memorandum of Understanding (MOU) to improve aid effectiveness by collaborating on projects addressing climate change and biodiversity loss.

The MOU is expected to enhance joint identification and cofinancing of projects and programmes, as well as lead to a greater harmonization, coordination and complementarity of programmes and projects financed by the GEF and JBIC. The MOU will also create mechanisms for: regular policy dialogue between both institutions and promote efforts to exchange information; programme, project and policy coordination; and sharing good practices and lessons learned on approaches, analysis, tools and indicators (IISD sources).