The Finance Ministry on Wednesday proposed a slimmed down draft budget of 32.54 trillion yen for the fiscal 2001 investment and loan program, down 15 percent from the current year and its second straight year-on-year fall.

The decline is the largest since the creation of the program more than a century ago and reflects the introduction of a market-mechanism that will reform the investment and loan program in April by cutting loans to almost all public entities.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

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.