Wednesday, August 20, 2008


SARAJEVO, Bosnia (August 20,2008) - The Bosnian Foreign Trade Minister Mladen Zirojevic met with the delegation of the Japan Bank for International Cooperation in the Bosnian capital Sarajevo.

The Japanese delegation arrived to Bosnia with the intention to assess the request for the project of the cleaning of sulphur from thermal power plant (TE) Ugljevik," the Bosnian Ministry of Foreign Trade and Economic Relations informed.

Minister Zirojevic emphasized the importance of the project and confirmed great interest of the Bosnian side for this project as well as pointed out that terms, which are being offered by this bank, were extremely favourable.

The Japan Bank for International Cooperation, (JBIC), is a Japanese governmental financial aid institution created in October 1, 1999, through the merging of the Export-Import Bank of Japan (JEXIM) and the Overseas Economic Cooperation Fund, Japan (OECF).

The bank's capital is totally Japanese, and its budget and operations are regulated by Japanese laws, namely, the JBIC law. Its main office is located in Tokyo, but the bank can maintain subsidiary offices overseas. The main purpose of the institution is to promote economical cooperation between Japan and other countries, by providing resources to foreign investments and by fostering international commerce. It also 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 to the promotion of sustainable development. It follows a policy of not competing with ordinary financial institutions. The bank is one of the instruments of Japan's official development assistance (ODA), which contributes to the execution of the country's foreign policy.

As it aims at sustainable development, JBIC is concerned about social and environmental issues, and requires Environmental Impact Assessment studies in order to provide funding to any project.

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