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Economy

Japan to secure $9.3bn in capital for coronavirus-threatened SMEs

Tokyo project aims to save regional economies through public-private joint fund

The Japanese government aims to stabilize regional economies by injecting capital into crucial medium- and small-sized companies.    © Reuters

TOKYO -- The Japanese government will set up a program to inject capital directly into financially troubled small- and medium-sized businesses -- key drivers of regional employment and economic growth -- that have fallen into serious difficulties due to the impact of the coronavirus, Nikkei has learned.

Under the program, a maximum of 1 trillion yen ($9.39 billion) will be set aside by the Regional Economy Vitalization Corporation -- a joint public-private fund -- to rescue companies that cannot be saved only through loans. The framework will allow investments as large as 10 billion yen per company.

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