Report: Japan to lend up to $122 billion for quake

[March 19, 2011]  TOKYO (AP) -- A Japanese news report says the government plans to lend up to $122 billion to help quake-damaged businesses get back on their feet.

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.

[Associated Press]

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