The Ministry of International Trade and Industry announced Friday it will broaden the range of countries and projects the government yen-loan scheme targets to aid economic reform in the aftermath of the Asian financial crisis.
The special yen-loan scheme was established in 1998 on the initiative of Prime Minister Keizo Obuchi to help Asia recover from the economic crisis, which surfaced in 1997. A total of 600 billion yen in loans, with an interest rate of 1 percent and payable over 40 years, are budgeted from fiscal 1999 through 2001.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.