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BOJ says 43 lenders qualified to tap its climate loan scheme -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A security guard passes by the Bank of Japan Headquarters in Tokyo on January 23, 2019, Japan. REUTERS/Issei Kato/File Photo

TOKYO, Reuters -The Bank of Japan (BOJ), Friday announced that 43 institutions are eligible to apply for loans in a new program to promote activities related to climate change.

The BOJ stated in a statement that three Japanese megabanks qualified for the program.

The BOJ stated that it will conduct its first auction of loans at the end of December.

The BOJ presented a draft of its climate program in July. It will provide zero-interest loans to banks who support green loans and can roll them over into 2030.

Financial institutions must disclose their targets, actual results and steps taken to comply with disclosure requirements.

As other central banks look to leverage their institutional strength to combat climate change, the BOJ has announced its green plans.

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