Japan's LDP to propose new loan schemes to ease coronavirus pandemic strain – Reuters

Dhwani Mehta FXStreet

Japan's ruling Liberal Democratic Party (LDP) is seen urging the government to expand and create new state-backed loan and loan guarantee schemes to support firms hit by the COVID-19 pandemic, Reuters reports, citing a draft proposal on Friday.

Additional takeaways

Japan’s LDP calls for extending until march zero-interest loan scheme for covid-hit firms.

Japan's LDP calls on the government to take steps to promote electric vehicles, battery development.

Following the above proposal, the government said in a statement released on Friday, Japan will extend until February next year a subsidy scheme that compensates companies for retaining jobs while temporarily closing the business due to the coronavirus pandemic, per Reuters.

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Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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