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Bank of Japan Venture-Loan Fund Reaches 3 Trillion Yen Limit

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Nov. 30 (Bloomberg) -- The Bank of Japan said it will disburse 162.9 billion yen in ($2.1 billion) loans to banks in a program to support growth industries, bringing total allocation to the maximum 3 trillion yen.

Funds will be lent to 85 financial institutions including seven large banks, the central bank said in a statement on its website today.

Officials also plan to disburse 17.5 billion yen under a separate program unveiled in June that allows lenders to ask for loans by using inventories and receivables as collateral. The ultimate size of that facility, which will continue through 2016 and is designed to support industries and improve the country’s potential growth, is envisioned at 500 billion yen.

To contact the reporters on this story: Mayumi Otsuma in Tokyo at motsuma@bloomberg.net;

To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net

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