EBRD opens new office in Tokyo

In an attempt to increase its business relationships with Japan, the European Bank for Reconstruction and Development (EBRD) has opened a new office in Tokyo this week. Of course, the EBRD is huge when it comes to their projects but it could be an important move considering Japan is one of the original shareholders of the EBRD as well as an investor in many of the economies where the EBRD likes to operate.

Masaru Honma, Director and Chief Representative, will be in charge of the office which was opened by the EBRD President, Sir Suma Chakrabarti, himself. Honma has said, “Japan is a very important partner for the EBRD. By increasing our presence in the country, we shall be able to support more Japanese companies as they seek investment opportunities in the EBRD regions. We shall also step up the transfer of Japanese skills and know-how to the emerging economies that we serve”.

As well as delivering a speech at the University of Tokyo, the President of the EBRD also spoke with many politicians in Japan and a number of business representatives. Hitoshi Sanada, Japan Bank for International Cooperation, has been key in building relationships over the last three years as the EBRD had no office in the country and will continue in Tokyo with a role in the new office.

Similarly, Masaru Honma has played an important role in building relationships in Japan. Having originally joined the EBRD 14 years ago, Honma is now a Director for Central Asia after previously holding a number of senior positions.

Turkey has seen the biggest investment from Japanese firms at a total of €1.1 billion with Poland and Hungary following closely behind on €.88 billion and €.75 billion respectively. When it comes to the different sectors, Japan and the EBRD (in joint operations) have invested over €3 billion in energy as well as €2.2 billion in industry and €1.5 billion in infrastructure. Furthermore, Japan is also one of the EBRD’s biggest bilateral donors for donor programmes by providing €180 million to date. This money has gone a long way for the Early Transition Countries (ETC) fund in particular.