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The government said Friday it has promoted Kyosuke Shinozawa, deputy governor of the Japan Bank for International Cooperation, to governor, replacing Hiroshi Yasuda.

Shinozawa, 64, a former vice finance minister, became deputy governor of the JBIC in 1999, when it was created through the merger of the Export-Import Bank of Japan and the Overseas Economic Cooperation Fund.

Shinozawa became president of the OECF in 1998 after resigning from the Finance Ministry in 1996.

The JBIC is Japan’s main foreign aid agency.

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