THE Japan Bank for International Cooperation (JBIC) and BDO Unibank, Inc. (BDO) have recently signed a memorandum of understanding (MoU) to develop a framework that would potentially support the banking needs of Japanese enterprises eyeing the Philippines as a business destination.

The said MoU forms part of JBIC's agenda, through the Japanese regional financial institutions, to back Japanese mid-tier companies as well as small and medium enterprises (SMEs) hoping to expand in the region.

BDO, a major player in the local banking sector, can provide the Japanese SMEs financial and non-financial advisory services, and other products and services that would be helpful to them once they set up shop in the country.

"The collaboration between BDO and JBIC is meaningful as both institutions share a mutual objective of promoting Japanese SMEs in the Philippines," said Walter Wassmer, head of BDO's institutional banking group. For his part, JBIC managing director and global head of industry finance group Kazuo Yuhara said the MoU was “just the beginning of the expanding relations between JBIC and BDO”.

Shown in photo are from left Messrs. Wassmer, Yuhara and BDO SVP Edward G. Wenceslao signing the MoU.