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Mizuho to launch 1 trln yen loan facility using BOJ programme
February 26, 2014 / 2:41 AM / 4 years ago

Mizuho to launch 1 trln yen loan facility using BOJ programme

TOKYO, Feb 26 (Reuters) - Mizuho Financial Group said on Wednesday it will launch a 1 trillion yen ($9.8 billion) low-interest loan facility for growth sectors, using the Bank of Japan’s special loan programme expanded this month.

Mizuho Bank, a unit Japan’s second-largest lender, will start providing the loans for one year starting in April to growth sectors such as the environment, energy, medical services and tourism, the bank said in a statement.

The facility was set up after the BOJ doubled funds available to banks under two facilities - one that encourages lenders to funnel money to industries with growth potential and another that offers cheap funds to banks that boost lending. Both give banks access to funds for four years at a fixed rate of 0.1 percent. ($1 = 102.1800 Japanese yen) (Reporting by Taiga Uranaka; Editing by Dominic Lau)

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