Japan Bank for International Cooperation

Japan Bank for International Cooperation
Native name
国際協力銀行
Company typeState owned
Headquarters
Tokyo
,
Japan
Key people
Tadashi Maeda (President & CEO)
Websitehttps://www.jbic.go.jp/en/

The Japan Bank for International Cooperation (国際協力銀行, Kokusai Kyōryoku Ginkō), JBIC, is a Japanese public financial institution and export credit agency that was created on October 1, 1999, through the merger of the Japan Export-Import Bank (JEXIM) and the Overseas Economic Cooperation Fund (OECF).[1]

JBIC became the international wing of the Japan Finance Corporation (JFC) (日本政策金融公庫, Nihon seisaku kin-yu kohko) (administered by the Ministry of Finance) established on October 1, 2008. It became independent again from JFC on April 1, 2012. The bank is wholly owned by the Japanese government, and its budget and operations are regulated by the JBIC law. It is headquartered in Tokyo and operates in 18 countries with 21 offices. The main purpose of the institution is to promote economic cooperation between Japan and overseas countries by providing resources to foreign investments and by fostering international commerce. It has a major role in promoting Japanese exports and imports, and the country's activities overseas. The bank's presence can be seen both in developed and developing countries. It tries to contribute to the stability of the international financial order and follows a policy of not competing with ordinary financial institutions. The bank was one of the instruments of Japan's official development assistance (ODA), which contributes to the execution of the country's foreign policy. JBIC claims to aim at sustainable development and to be concerned about social and environmental issues,[2] and requires environmental impact assessment studies to provide funding to any project. According to the OECD, Japan’s total official development assistance (ODA) (USD 17.5 billion, grant-equivalent methodology, preliminary data) increased in 2022 due to an increase in its bilateral lending, which includes support to Ukraine. ODA represented 0.39% of gross national income (GNI). [3] Nonetheless, it was the biggest known financier of coal projects among public institutions worldwide in 2016[4] and continues to finance coal up to the present (status 2019).[5]

  1. ^ "Birth of Japan Bank for International Cooperation". Japan Bank for International Cooperation. October 1, 1999. Archived from the original on August 31, 2003.
  2. ^ "Guidelines for Confirmation of Environmental and Social Considerations" (PDF). Japan Bank for International Cooperation. April 2012. Archived from the original (PDF) on 2013-01-20.
  3. ^ "OECD Development Co-operation Profiles". Retrieved 4 October 2023.
  4. ^ Chen, Han (21 March 2017). "G20 Countries Financed $8 Billion of Coal Overseas in 2016". nrdc.org. Retrieved 4 February 2020.
  5. ^ "Japan to keep pushing coal in developing world despite criticism". energycentral.com. 10 December 2019. Retrieved 4 February 2020.