LONDON, July 12 (Reuters) - Britain will announce on Friday details of a scheme to lower finance costs for banks if they lend more to business, the Bank of England said on Thursday. The joint ‘funding for lending’ scheme to be run by the BoE and Britain’s finance ministry was announced in outline last month by BoE Governor Mervyn King and finance minister George Osborne. Full details will be released at 1000 GMT on Friday, the BoE said.
Mervyn King is the Governor of London.