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Japan Bank of International Cooperation

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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 1 October 1999, through the merger of the Japan Export-Import Bank (JEXIM) and the Overseas Economic Cooperation Fund (OECF). 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 1 October 2008. It became independent again from JFC on 1 April 2012. The Japanese government wholly owns the bank, and the JBIC law regulates its budget and operations. It is headquartered in Tokyo and operates in 18 countries with 21 offices. The institution primarily aims to promote economic cooperation between Japan and overseas countries by providing resources for foreign investments and fostering international commerce. It has a significant 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 and require environmental impact assessment studies to provide funding to any project. Nonetheless, it was the most significant known financer of coal projects among public institutions worldwide in 2016 and continues to finance coal up to the present.

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