BOT-Mitsubishi UFJ To Create Fund For BOJ Growth Loan

The Bank of Tokyo-Mitsubishi UFJ announced that it plans to launch a fund to extend loans to companies under the Bank of Japan's new lending facility. The BOJ will provide money with 0.1% to financial institutions that lend or invest in sectors the central bank has deemed promising. The fund is expected to reach up to 150 billion yen; each borrower will receive about 5-10 billion yen for a term of up to four years, with the interest rate being re-evaluated annually.