Japan Central Bank Offers $18B in Climate Financing

Japan’s central bank offered around $18 billion dollars in loans to financial institutions for the first auction under its new climate financing scheme.

The Bank of Japan (BOJ) released on Thursday a notice regarding a tender for a combined 2.05 trillion yen ($17.94 billion) in loans which will be disbursed on Friday and will mature in January 2023.

The central bank had joined the global climate movement and launched a new lending scheme earlier this year which is aimed at financing activities that will fight climate change with zero-interest loans. 

After the December disbursement, which is the first under the green financing scheme, loans will be offered about twice a year, according to the BOJ. Banks that offer green and sustainable loans can avail of the disbursements and repay them until 2030.

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