Abe unveils zero-interest loan scheme for small firms hit by virus

Mar 08, 2020 | News On Japan

Mar 08, 2020 (Kyodo) - Prime Minister Shinzo Abe said Saturday the government will launch a scheme to extend zero interest loans with no collateral to small and midsized companies reeling from the new-coronavirus turmoil.

The state-owned Japan Finance Corp. is among entities that will join the program aimed at helping small businesses gain access to financing and stay afloat, Abe said at a meeting of a government task force on the coronavirus response.

"We will make our utmost efforts to keep jobs and make sure companies can maintain their business," Abe said during the meeting at his office.

The government will also financially support parents who have been forced to take time off to look after their children due to Abe's abrupt decision to close all schools from last Monday to the start of the new school year in April.

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