Society | Aug 07

Japan OKs use of Y1.13 trillion in reserve funds to fight pandemic

The Cabinet on Friday earmarked ¥1.13 trillion in reserve funds to continue measures to cushion the impact of the coronavirus pandemic.

Of the total, ¥915 billion will be allocated to a cash benefit program of up to ¥2 million each to small and midsize firms that have seen a sharp drop in sales due to social restrictions implemented to slow the virus’s spread.

For households whose income has fallen sharply, the government will allocate ¥177.7 billion for a no-interest loan program providing up to ¥200,000.

To beef up quarantine steps such as conducting polymerase chain reaction (PCR) tests for visitors from foreign countries, the government will set aside ¥33 billion.

The latest money comes in addition to a total of ¥11.5 trillion in reserve funds already dedicated by the government to the fight against the pandemic, which were part of the first and second supplementary budgets for fiscal 2020 .

Source: ANNnewsCH

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