May 19, 2020 / 10:12 AM / 6 days ago

Japan to create scheme to inject capital into smaller firms hit by pandemic: Nikkei

TOKYO (Reuters) - Japan’s government will create a pool of funds with private financial institutions to inject capital into small and mid-sized firms struggling from the hit to earnings from the coronavirus pandemic, the Nikkei newspaper reported on Tuesday.

The government will set aside roughly 50 billion yen ($465 million) for the fund under a second supplementary budget for the current fiscal year, which will be submitted to parliament for approval in June, the paper said, without citing sources.

Reporting by Leika Kihara; Editing by Andrew Heavens

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