On 10 October 2012, the Japan Bank for International Cooperation (JBIC) signed a memorandum of understanding (MOU) with AKBANK T.A.S., a Turkish bank, to share information on a possible collaboration in financing.
 
The JBIC reported that 'the objective of this MOU fund is to explore the future cooperation between JBIC and AKBANK for supporting the financing of Japanese exports to Turkey and its neighboring countries and to exchange information regarding potential projects involving the export of Japanese machinery and equipment from Japan under the future financing cooperation'.
 
The JBIC is a public financial institution and export credit agency created on 1 October 1999 through the merger of the Japan Export-Import Bank and the Overseas Economic Cooperation Fund.