IFC and the Government of Japan have signed a memorandum of understanding (MOU) to establish the Tokyo Business Development Hub (Tokyo Hub), aimed at strengthening partnerships with Japanese businesses and mobilizing private capital for global development. The Hub will focus on creating a pipeline of potential projects with Japanese partners, targeting key sectors such as food security, energy infrastructure, and African development.
The Tokyo Hub is expected to serve as a platform to connect Japanese expertise and innovation with pressing development needs. IFC and the Japanese Ministry of Finance highlighted the Hub’s potential to foster innovation, mobilize private sector investment, and accelerate sustainable growth in developing countries. Riccardo Puliti, IFC’s Regional Vice President for Asia and the Pacific, emphasized that Japan’s advanced industries and financial capacity are vital for addressing global development challenges and creating jobs.
Daiho Fujii, former Deputy Vice-Minister of Finance for International Affairs at the Japanese Ministry of Finance, noted that Tokyo’s ecosystem of advanced industries, sophisticated financial markets, and support from development partners like JICA, JBIC, and NEXI makes it an ideal location for business development. The Tokyo Hub is expected to play a central role in driving business collaboration and delivering impactful IFC projects.
Japan has been a longstanding supporter of IFC, serving as its second-largest shareholder and a leading donor to IFC’s advisory and Upstream programs through the Comprehensive Japan Trust Fund (CJTF), which celebrates its 30th anniversary this year. IFC also maintains strong partnerships with Japanese development financial institutions, including JBIC and JICA, which have co-invested approximately $4 billion in IFC projects globally. Since fiscal year 2005, the Japanese private sector has contributed around $10 billion as a co-investment partner, underscoring its long-term commitment to supporting global development initiatives.
