Japan International Cooperation Agency (JICA) and the Overseas Economic Cooperation (OEC)operation of Japan Bank for International Cooperation (JBIC) are merging into New JICA on Wednesday (today). New JICA will be able to provide technical loan - Official Development Assistance (ODA) and part of grant aid all under one roof.
The merger will create one of the world's largest bilateral development agencies with annual available financial resources of approximately US $10 billion all over the world, and $500 million in Pakistan. The bilateral ODA from government of Japan to the developing countries is set as three tiered, which includes ODA loan by Japan Bank for International Cooperation (JBIC) and grant aid dispensed through Ministry of Foreign Affairs of Japan.
Japan has been working in various sectors, including health, education, sanitation, agriculture, environment, governance, irrigation, transport and energy. JICA has been in charge of technical assistance and transfer of technology, by dispatch of expert, conduct of development studies, execution of projects, acceptance of governmental trainees in Japan, and dispatch of volunteers.