Japan Bank for International Cooperation
Japan has been extending financial assistance for India’s development programme since 1958. Initially Japanese aid to India was channelised through the Government owned Export-Import Bank of Japan (J-EXIM). During 1975-76, aid was channelised through the Overseas Economic Cooperation Fund (OECF) of Japan. From 1976-77 onwards, both project and commodity aid was being channelised through the OECF. With effect from 1st October, 1999, J-EXIM and OECF have merged and the new agency Japan Bank for International Cooperation (JBIC) is the channel for both-ODA operations as well as the International economic operations function of Government of Japan.
Japanese Bilateral Assistance to India consists of ODA Yen loans through JBIC (the Japan Bank for International Cooperation) and Grant Aid and Technical Cooperation through JICA (Japan International Cooperation Agency). Apart from the Project tied aid from JBIC, Japan also gives grant aid of following kinds:
Ø General grant
Ø Cultural grant
Ø Debt Relief grant and
Ø Grants Aid for fisheries.