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.
In 2018, Art Bank has bought 253 art pieces from 169 artists, bringing the bank collection to a total of 2,100 pieces by 1,191 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.