BoJ says 43 lenders qualified to tap their climate loan scheme

BoJ says 43 lenders qualified to tap their climate loan scheme ...

The Bank of Japan said on Friday that 43 financial institutions qualified to get loans under a new scheme aimed at promoting activities to combat climate change.

Japan's three megabanks were among those qualified for the program, the BOJ said in a statement.

The OHJ said it would conduct the first auction for loans on Dec. 23.

The BOJ laid out an outline of the climate plan in July which would allow banks to promote green and sustainable loans. It will offer zero-interest loans that can be rolled over to banks that boost green and sustainable loans.

The financial institutions must disclose all the details of their objectives and actual results for green investment and loans and what steps they take to comply with disclosure rules.

The green plans of the BOJ came as other major central banks aim to fund their institution's hefty efforts to combat climate change.

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