About JFM

Lending Operations for Local Governments

As a Reliable Lender of Public Funds

JFM provides long-term and low-interest rate funds to local government projects that are essential to daily lives of citizens, such as water supply and sewerage, transportation, hospitals, public housing and so on.

Types of Loans

JFM classifies its general loans into the following two categories:

Japan Finance Organization for Municipalities

Lending Scopes

JFM lends mainly to the following local government businesses with respective loan maturities.

Japan Finance Organization for Municipalities


  1. Adjustable lending rates are reviewed depending on the maturity of the loan every 5 years, every 10 years or every 15 years or 20th, or 30th anniversary of the initial disbursement. Lending rates for Temporary Financial Countermeasures Fundings are reviewed every 5 years or 10 years.

  2. Figures represent maximum maturities and grace period for principal payment.

Lending Activities

In fiscal 2022, the lending volume amounted to USD 11.9 billion. At year-end, outstanding loans were USD 174.6 billion.

Japan Finance Organization for Municipalities
Japan Finance Organization for Municipalities

USD 1 = JPY 133.48 as of 31 March 2023.
The major JFM-funded local government businesses are as follows.

Water Supply Business:Kaneda Raw Water Reservoir (Kisarazu City, Chiba Prefecture)
Transportation Business:Kumamoto City 0800 Series Low Floor Tram (Kumamoto City, Kumamoto Prefecture)
Hospitals Business:Atsugi City Hospital (Atsugi City, Kanagawa Prefecture)
Sewerage Business:Sewage Purification Center (Shiojiri City, Nagano Prefecture)