LDP Works Out Rent Relief for Virus-Hit Businesses
Tokyo, May 7 (Jiji Press)--Japan's ruling Liberal Democratic Party on Thursday came up with a rent relief program for small businesses and self-employed people whose sales have slumped due to the coronavirus crisis.
Under the program, the government will provide financial aid equal to two-thirds of rents for half a year.
The LDP will propose the program to the government on Friday, after discussions with its coalition partner, Komeito.
Eligible for the relief will be small businesses and self-employed people whose monthly sales halved from a year before, or whose average sales in three months dropped 30 pct.
The government will shoulder two-thirds of rents paid using zero-interest unsecured loans. The maximum amount of the aid per month will be 500,000 yen for small businesses and 250,000 yen for self-employed people.
[Copyright The Jiji Press, Ltd.]