April 9, 2018
IFC CEO Philippe Le Houérou, left, and JICA President Shinichi Kitaoka
JICA President Shinichi Kitaoka held talks with Philippe Le Houérou, CEO of International Finance Corporation (IFC), on March 27 at JICA Headquarters in Tokyo.
JICA and the IFC work together on investment and lending for the private sector in developing countries to implement projects. They signed a cooperation memorandum in May 2017. Mr. Kitaoka and Mr. Le Houérou discussed the prospects for future cooperation between JICA and the IFC. They agreed that the funding and resources of public institutions is insufficient to achieve the Sustainable Development Goals, and it is vital to use the public funding of institutions such as JICA and the IFC as a catalyst to mobilize private funds. Mr. Le Houérou articulated that development assistance in 21st century should focus on private sector development and the use of private funds. The two men agreed to strengthen the partnership between their institutions.
JICA will continue responding to the funding needs of the private sector in developing countries while contributing to solving development issues.