BOJ to Promote Investments, Loans to Address Climate Change

Politics

Tokyo, June 18 (Jiji Press)--The Bank of Japan, at its two-day policy-setting meeting through Friday, decided to introduce a new fund-supply scheme to encourage financial institutions to make investments and loans to address climate change issues.

This scheme, whose outline will be announced when the BOJ holds its next policy meeting in July, is expected to be introduced by the end of this year.

Supporting the private sector's efforts to tackle climate change "will contribute to stabilizing the macroeconomy in the long run," the BOJ said in a statement released after the meeting.

In taking actions from the monetary policy side, the BOJ deems it important to give consideration to market neutrality, the central bank added.

The BOJ also decided to extend its corporate financing support measures for the fight against the novel coronavirus pandemic by six months until the end of March 2022.

[Copyright The Jiji Press, Ltd.]

Jiji Press