WASHINGTON -- Members of the Trilateral Infrastructure Partnership (TIP) renewed a Memorandum of Understanding (MOU) on cooperation in the Indo-Pacific region between U.S. International Development Finance Corporation (DFC), Japan Bank for International Cooperation (JBIC), and Australia's Department of Foreign Affairs and Trade (DFAT) and Export Finance Australia (EFA).
The MOU renewal recognises the strong partnership between the United States, Japan, and Australia in driving sustainable economic growth and development across the Indo-Pacific region. DFC, JBIC, DFAT, and EFA affirmed they will work together to deliver new high-quality, sustainable infrastructure projects across the region. Based on the partners' shared values, projects will emphasize transparency and respect the sovereignty and individual needs of countries in the region.
In line with the recently announced Indo-Pacific Economic Framework, the TIP partners also welcome, and look forward to working in concert with, the Quad on infrastructure among the United States, Japan, Australia, and India.
