World News

Exclusive: Japan to boost special financing for coronavirus-hit firms to $16 billion, document shows

TOKYO (Reuters) – Japan will boost its special financing for small and mid-size firms hit by the coronavirus to 1.6 trillion yen ($15.6 billion), according to a government document seen by Reuters on Monday.

The financing, which the government is due to announce on Tuesday, marks a sharp increase from the roughly 500 billion yen previously announced.

The government will use public financial institutions including the Japan Finance Corporation [JFC.UL] and the Development Bank of Japan [DBJPN.UL] to provide the funding, according to the document.

(Reporting by Takaya Yamaguchi and Takashi Umekawa; Editing by David Dolan)