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Japan's ruling party to propose new loan schemes to ease pandemic strain - draft

11/26/2020 | 07:52pm EST
Yoshihide Suga holds a press conference at LDP (Liberal Democratic Party) headquarters in Tokyo

TOKYO (Reuters) - Japan's ruling Liberal Democratic Party will urge the government to expand or create new state-backed loan and loan guarantee schemes to support firms hit by the coronavirus pandemic, a draft proposal obtained by Reuters showed on Friday.

In the proposal, to be finalised later on Friday, the LDP will also will call for extending until March a zero-interest-rate loan scheme aimed at easing corporate funding strains that expires in December, the draft showed.

The draft proposal also calls on the government to take steps to promote electric vehicles and battery development.

(Reporting by Daniel Leussink, writing by Leika Kihara; Editing by Chris Gallagher)

© Reuters 2020
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