In Hong Kong:
Andrew Mak
Phone: +852 2509 8110
E-mail: AMak@ifc.org

In Washington, D.C.:
Hannfried von Hindenburg
Phone:  +1 (202) 458-5613
E-mail: hvonhindenburg@ifc.org


Tokyo, August 27, 2009—IFC, a member of the World Bank Group, signed a memorandum of understanding with Mitsubishi UFJ Lease & Finance Co. Ltd. to cooperate in providing financing for projects that help reduce greenhouse gas emissions and environmental pollution in Asia’s developing countries. The two institutions will focus primarily on lease financing for energy efficiency, renewable energy, and cleaner production projects.

“Strengthening business in Asia is one of our core strategies,” said Naotaka Obata, President and CEO of Mitsubishi UFJ Lease & Finance, part of the Mitsubishi Group. “Partnering with IFC will help us enter new markets and provide new products to local customers for projects furthering environmental sustainability.”

In energy efficiency, IFC and Mitsubishi UFJ Lease & Finance will seek to finance projects such as those that improve companies’ waste heat recovery and thermal insulation of office buildings, and high efficiency lighting systems. The partners will also seek to cooperate in financing projects that generate power from renewable energy sources such as wind, water, sun, geothermal, or biomass. In cleaner production, eligible projects include technical upgrades that make the best use of materials and energy in industrial processes to minimize waste and emissions while maximizing productivity.

“Mitsubishi UFJ Lease & Finance is an ideal partner for IFC with the ability to assess clients’ financing and technology needs and to improve sustainable energy finance in developing countries,” said IFC’s Executive Vice President and CEO Lars Thunell. “IFC also sees opportunities for Mitsubishi UFJ Lease & Finance to collaborate with Japanese manufacturers and engineering companies in transferring their environmentally friendly production technologies to developing countries.”

About IFC
IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $15 billion in fiscal 2009, helping channel capital into developing countries during the financial crisis. For more information, visit www.ifc.org.

About Mitsubishi UFJ Lease & Finance Co. Ltd.
Mitsubishi UFJ Lease & Finance is a leasing firm and belongs to the Mitsubishi Group, headquartered in Japan. As a comprehensive finance company, it expands the business scope beyond traditional lease, not only in Japan but globally.  Mitsubishi UFJ Lease & Finance offers a diverse array of products and services such as operating lease, eco-related business, and medical business. For more information, visit www.lf.mufg.jp.