Japan preparing to help crisis-hit Asian economies

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Japan preparing to help crisis-hit Asian economies

The Japanese government is preparing for possible requests for financial aid to help Asian countries hit by the ongoing global financial crisis.

With the turmoil spreading, moves by the international community to rescue crisis-stricken economies are gaining momentum.

The government believes that it is Japan's responsibility to help Asian economies, just as European countries have begun providing funds to ailing economies in their region, such as Iceland.

So far, Asian economies in need of financial aid have been limited to Pakistan. But the government expects more Asian countries that need a rescue package to emerge.

It plans to consult with the World Bank and other international bodies about possible types of assistance.

Emergency grants and low interest loans to promote public works projects are believed to be some of the options.

2008/11/04 09:44

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