GM, Chrysler launch aid schemes for suppliers

General Motors Corp and Chrysler launched government-backed assistance programs for parts suppliers on Wednesday, and the task force overseeing the carmakers' restructuring was expected to meet with GM this week to speed up the process.

The government will give $2 billion to GM to support suppliers, and Chrysler will receive $1.5 billion to maintain its supply base.

GM, Chrysler and the suppliers are required to kick in capital to participate in the program.