The Japan government decided to expand a lending program that will use government-held dollars to increase foreign acquisitions and investments in natural resources to about 10 trillion yen (about $130 billion), aiming to rein in the Japanese currency, the Nikkei business daily reported.
The expansion is part of a package of policy responses to the strong yen that the cabinet is set to approve on Friday, the newspaper said.
Earlier plans for the lending program run by the state-backed Japan Bank for International Cooperation had called for $100 billion, or roughly 7.7 trillion yen, in loans, the paper said.
The dollar funding will come from a special government account for foreign exchange interventions, the Nikkei said.
Read the rest of the story: Japan to Boost Dollar Loans to Curb Yen.