Japan cabinet approves use of $4.6 billion of reserves to support pandemic-hit businesses

Reuters

Published Apr 29, 2021 10:07PM ET

TOKYO (Reuters) - Japan's cabinet said on Friday it would spend 500 billion yen ($4.59 billion) from emergency reserves to support pandemic-hit businesses.

The money will be drawn from 5 trillion yen in coronavirus-related reserve funds that the government has allocated as part of its budget for the current fiscal year.