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On April 8, 2020, the Prime Minister held a meeting with public and private financial institutions at the Prime Minister’s Office.
 
The Prime Minister said in his opening address,
 
“Thank you all very much for coming to the Prime Minister’s Office today despite your busy schedules.
 
Yesterday, we issued the declaration of a state of emergency in seven prefectures. The  citizens have been extending their support to prevent the spread of infections, such as the reduction of people to people contact by 70%, ideally by 80%. In such a situation, it is vital to maintain the functions of financial institutions, which are indispensable for the stability of the national economy.
 
As you are all well aware, many business operators across Japan are now faced with very difficult circumstances. We will provide thorough support to ensure business continuity amidst such distressing conditions, and protect employment, the places of work, in local communities, at any cost. With such a resolve, the government is putting in place all possible measures.
 
Financing is the greatest concern of micro-, small-, and medium-sized business operators. With this in mind, these emergency economic measures provide strong liquidity support at an unprecedented scale of up to 45 trillion yen.
 
Micro-, small-, and medium-sized business operators across Japan are enduring truly challenging circumstances, gritting their teeth and working hard to continue their businesses and protect employment.
 
We must not let their efforts come to nothing. I sincerely ask for the cooperation of all the financial institutions.
 
In the emergency economic measures, we have made interest-free unsecured loans with principal repayment deferred for a maximum of five years available at local private financial institutions as well.
 
With regard to changes to loan conditions, including the grace period on recurring debts, I ask that you continue to respond expeditiously and flexibly.
 
Furthermore, we have made it possible to refinance recurring debts as interest-free, unsecured loans in governmental financial institutions, and I ask that you please make active use of this and provide full support to your customers. In addition, for mid-sized and large enterprises, I ask that you please advance liquidity support through operations to facilitate crisis response.
 
In order to help business operators to overcome this difficult time, I ask for your further efforts to implement lending at the fastest speed possible.
If there is anything that the government can do, we will work expeditiously. I am looking forward to hearing about efforts on the ground. Thank you very much.”
 
At the end of the meeting, the Prime Minister said,
 
“I would like to once again express my appreciation to all of you for taking time out from your busy schedules to present your views today. Now, we can say that our country is facing the greatest crisis ever since the end of the War.
 
In such circumstances, I would like to overcome this crisis, with the support of the public.
 
Amidst this ongoing crisis management, we are asking financial institutions, as economic infrastructure or social infrastructure, to continue their businesses. Against this backdrop, I would like to express my sincere appreciation for the truly hard work of those at the forefront of such efforts.
 
Now, under the state of emergency, while the economy is experiencing hardships, we are forced to further reduce the movement of people and slow down the velocity of economic activities. Amidst such a situation, I am determined to support those who are making efforts right now, and protect employment and daily lives at any cost.
 
I believe that the government exists to serve that very purpose. On the basis of that, it is vital for businesses to remain open so that we can achieve a V-shaped recovery, once we are close to containing the spread of infections.
 
Under the current challenging circumstances, governmental financial institutions, among others, are extending their cooperation, for example in the provision of interest-free unsecured loans with principal repayment deferred for a maximum of five years.
 
Even though counter services will become very busy, private financial institutions will join forces with us. Chairman Mike of the Japanese Bankers Association gave very encouraging comments. Now it is the turn of local banks, Shinkin banks, and credit cooperatives. We must now sustain local economies and I would like to ask your strong support and flexible responses.
 
We have received overwhelming feedback from the public that they really want to have their credit screenings carried out as soon as possible and get cash flow immediately in any way, otherwise they can no longer sustain their businesses.
 
I understand that counter services will become very busy but I would like to ask for your cooperation nonetheless. Regarding this crisis management or crisis response, your cooperation is fatally indispensable for overcoming this trial. I would like you to understand that point and ask for your cooperation. Thank you very much.”