Note 1-38

38 When compiling the Fiscal Investment and Loans Program (FLIP) for the post-reform period, the government implements detailed investigation of its capacities with regard to supplementing private businesses, enabling redemption of capital and policy cost analysis, etc. and works for gradation of areas and projects according to priority. The scale of the FY2004 FLIP is approximately 20.5 trillion yen, or half of the FY1996 program (approx. 40.5 trillion yen).