TOKYO: Japan’s Nissan Motor Co has signed a 200-billion-yen ($1.44 billion) green loan agreement to fund zero-emission mobility investments, the automaker said on Wednesday.

The syndicated loan was arranged by Mizuho Bank and MUFG Bank with contract periods of five and seven years, it said in a statement.

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The funds will be used for research and development of zero-emission vehicles, components for electric vehicles, and other carbon-neutral initiatives, Nissan added.