Business

BOJ strengthens support for small businesses

May 22, 2020

Tokyo (Japan), May 22: The Bank of Japan is introducing a new system to help small and medium-sized businesses affected by the coronavirus pandemic.
The BOJ held an extraordinary monetary policy meeting on Friday to deal with the worsening economic situation.
Policymakers decided to create a new structure, enabling the BOJ to provide funds to select private financial institutions at a zero percent interest rate.
The move aims to encourage banks to participate in an interest-free loan program for small and medium-sized enterprises.
The scheme was launched by the government earlier this month.
Source: NHK World

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