The Japanese Ministry of Economy, Trade and Industry plans one trillion yen (8.2 billion US dollars) in safety net measures for small and mid-sized companies expected to be hit by plans to accelerate banks' disposal of bad loans, Japan's Kyodo News reported on Tuesday.
The ministry hopes the measures will be included in a proposed extra budget for the current fiscal year, the report said.
Under the safety net plan, 700 billion yen (5.7 billion dollars) is to be used to bolster the credit guarantee system for smaller firms to help them secure necessary funding.
Another 250 billion yen (2.1 billion dollars) will be used to replenish the credit insurance system that supplements the credit guarantee system, while about 10 billion yen (81.9 million dollars) will be used to support startup firms and revitalize urban areas, the report said.
Source: Xinhua via COMTEX
