Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

BOJ offers to pump $18 billion into green finance scheme

Published 12/23/2021, 03:26 AM
Updated 12/23/2021, 03:31 AM
© Reuters. FILE PHOTO: A man wearing a protective mask walks past the headquarters of Bank of Japan amid the coronavirus disease (COVID-19) outbreak in Tokyo, Japan, May 22, 2020.REUTERS/Kim Kyung-Hoon/File Photo/File Photo

TOKYO (Reuters) - The Bank of Japan offered on Thursday to extend $18 billion worth of loans to financial institutions in a first auction conducted for a new scheme aimed at promoting activities to fight climate change.

The combined 2.05 trillion yen ($17.94 billion) in loans will be disbursed on Friday and mature in January 2023, the central bank said in a statement.

The BOJ launched a new lending scheme this year under which it offers zero-interest loans that can be rolled over until 2030 to banks that boost green and sustainable loans.

The green plans come as other major central banks use their institutional heft to take on climate change. The BOJ said in November that 43 financial institutions, including three megabanks, qualified to tap the scheme.

($1 = 114.2600 yen)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.