Japan to inject $850m into tsunami-hit banks

Japan will inject public funds totalling 65 billion yen ($850 million) into two banks in the northeast to aid rebuilding after the March quake and tsunami, the Financial Services Agency said.

Sendai Bank, based in Miyagi prefecture, will receive 30 billion yen in capital and Tsukuba Bank in Ibaraki prefecture 35 billion yen after they requested the cash to lend to firms for reconstruction, the agency said Wednesday.

The funds will be provided later this month, it said in a statement.

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