Tokyo, March 19 (Jiji Press)–Japan’s Financial Services Agency plans to issue an urgent request to the financial industry to provide financing support to small and midsize businesses in response to the escalating tensions in the Middle East, informed sources told Jiji Press on Thursday. The FSA plans to hold a meeting with industry groups later this month, making arrangements for financial services minister Satsuki Katayama to attend. Through discussions on the impact on business operations of soaring crude oil prices, the FSA aims to prepare all possible support measures for small and midsize companies. The U.S.-Israeli attack on Iran has caused energy prices to surge and delays in logistics services, raising concerns about downward pressure on the economy. The FSA appears to have determined that it needs to hear from the industry, such as officials from major banks and regional financial institutions, to assess the actual situation. In light of the deteriorating situation in the Middle East, regional banks have started opening consultation desks for corporate clients and offering special loans. END [Copyright The Jiji Press, Ltd.]
EXCLUSIVE: Japan FSA to Seek Emergency Financing for Small Firms
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