Fiscal Investment and Loan Program (FILP) Lending Rates (Applicable from September 1, Reiwa 7)

The Ministry of Finance announced on August 28, 2025, the lending rates for the Fiscal Investment and Loan Program (FILP) applicable from September 1, 2025 (Reiwa 7). The FILP system provides long-term, fixed, and low-interest funding from the government to address important national policy issues. These lending rates are set according to loan periods and grace periods, expressed as annual interest rates. FILP funds are lent to independent administrative institutions, local governments, and special corporations for the purpose of social infrastructure development and smooth policy financing. Interest rate levels are determined based on government bond yields, reflecting market interest rate trends. This system supports economic growth and social infrastructure development in Japan by meeting long-term and large-scale funding needs that private financial institutions find difficult to handle. Even after fiscal investment and loan reforms, it continues to function as an important tool for policy financing, contributing to the realization of national policy objectives.