The Japan Bank for International Cooperation (JBIC) is the main executing agency of Japan's government development assistance, established in 1999 as the Japan Bank for International Cooperation (established in 1952) and the Overseas Economic Cooperation Fund (OECF). It was established in 1999 as the Japan Bank for International Cooperation (JBIC) (established in 1952) and the Overseas Economic Cooperation Fund (OECF) (established in 1961). The Bank is responsible for the Japanese yen loan component of government development assistance and has offices in more than 20 countries and regions around the world.