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ECONOMY

JBIC to offer dollar-denominated, low-interest loans to help virus-hit firms

  • May 1, 2020
  • , Nikkei , p. 9
  • JMH Translation

The Japan Bank for International Cooperation (JBIC) will start providing loans in U.S. dollars in order to support the overseas operations of companies affected by the new coronavirus outbreak. It has set interest rates lower than normal by utilizing the government’s Foreign Exchange Fund Special Account. It plans to grant loans worth about one trillion yen in fiscal 2020. Among Japanese companies, there is a strong need for securing dollars. The JBIC will provide extensive support for major companies as well as smaller companies operating overseas with a focus on the manufacturing industry. (Abridged)

 

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