Asia-Pacific

Japan to lend up to $122 billion for quake

(Agencies)
Updated: 2011-03-19 14:44

TOKYO - A Japanese news report says the government plans to lend up to $122 billion to help quake-damaged businesses get back on their feet.

Special Coverage: Earthquake Hits Japan Related readings:  Chinese approve of relief aid to Japan  Japan forges ahead with quake-relief efforts  NE China province donates to quake-torn Japan  China offers $4.6m emergency aid to Japan

The Nihon Keizai newspaper said Saturday that the government would arrange low-interest loans or interest subsidies to companies for daily expenses or quake-related repairs. It said the total lending covered could be as high as 10 trillion yen ($122 billion).

Japan's government has launched a series of initiatives to shore up the economy following the magnitude-9.0 quake and tsunami on March 11 that triggered an unfolding nuclear crisis.