Art Bank Taiwan is a Ministry initiative that will assist the nation's emerging young artists in receiving international exposure. First enacted in 2013, the initiative will:
- Help finance emerging young artists. The Ministry has an annual budget of NT$70 million (US$2.4 million) dedicated to purchasing local art pieces of great potential.
- Introduce Taiwanese artworks to foreign audiences. By collaborating with the private sector, the Ministry has secured new exhibition spaces in corporate headquarters, overseas offices and hotel chains.
- Promote cultural diplomacy. The Ministry will loan or rent art pieces to governmental agencies as well as the nation's embassies and cultural offices around the world.
- To disseminate Taiwan's culture through public spaces and diplomatic networks, the Ministry is working in partnership with the Ministry of Transportation and the Ministry of Foreign Affairs.
- The clients of the Art Bank are primarily Taiwan-based corporations that seek to support the arts through philanthropic assistance.
- A digital collection of works by Taiwan's emerging young artists is maintained by the National Taiwan Museum of Fine Arts, a subordinate organization of the Ministry.
As of 2017, Art Bank has purchased 1,847 art pieces from 1,022 local artists.
The collection, which can be viewed by visiting the project headquarters in Taichung or by browsing its digital database
, is open to non-Taiwan corporations and agencies as well. The current works available for leasing range from graphic paintings, photography, and video art, to sculptures and mixed-media creations.