But LGIVs obtained a massive amount of financing in 2012 by issuing bonds and trust loans. This includes ¥250 billion in local-government bonds, ¥636.8 billion in urban-investment bonds, and technical cooperation trust-fund projects totaling ¥501.6 billion, representing year-on-year increases of ¥50 billion, ¥380.6 billion, and ¥247.9 billion, respectively.