Forty-five public corporations financed by the "zaito" government fiscal investment and loan program held roughly 306 trillion yen in total liabilities as of the end of fiscal 2000, according to a Board of Audit report submitted Friday to Prime Minister Junichiro Koizumi.
During the past 12 years through March 31, the government paid out a total of 31.2 trillion yen, including some 5.05 trillion yen in fiscal 2000, to help the quasi-governmental bodies reduce their debt loads, which the board said "match the outstanding balance of government bonds."
The report says the Cabinet, 10 government departments and 14 state-backed entities failed to make good use of 13.84 billion yen in taxpayers' money in 238 cases.