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The Executive Yuan approved the " National Credit Guarantee Scheme Promotion Plan " on November 2, 2020. The National Development Council issued a letter on November 16, 2020 entrusting the Export-Import Bank of the Republic of China to serve as the execution unit. Accordingly, the Export-Import Bank of the Republic of China established Nation Credit Guarantee Administration in 2021. It was unveiled on January 20 and entrusted with financing guarantee business in a dedicated and independent accounting manner. The funds for the special account of the National Credit Guarantee Scheme come from the National Development Fund Management Council of the Executive Yuan, the Bank of Taiwan, the Land Bank of Taiwan, Mega International Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Changhua Commercial Bank, Taiwan Cooperative Bank and Taiwan Business Bank jointly contributed more than NT$9 billion, and can provide a total of 10 times the capital contribution, a guaranteed line of approximately NT$90 billion. The promotion method is limited to contracted financial institutions that can use this scheme to provide credit guarantees related to the contracted financial institutions. Currently, the 8 banks lists above are contracted financial institutions that can apply for financing guarantees.
