The Japanese government will provide interest and collateral-free loans to small and midsize companies hit by the outbreak of the new coronavirus, Prime Minister Shinzo Abe said Saturday.

The loans will be provided under a special lending program to be established at government-affiliated Japan Finance Corp., Abe said at a meeting of his coronavirus response task force.

"Unprecedented, powerful financial assistance will be provided to struggling small and midsize businesses across the country to keep them afloat," Abe said.

He reiterated the government's plan to give financial aid to parents forced to take leave from work to care for their children due to emergency school closures.

The prime minister also said the government will financially support community efforts to take care of children during the school closures.

Abe said that a planned package of additional emergency measures to fight the virus crisis will address challenges related to medical care, the school closures, reduced business activities and employment.

He instructed his ministers to speed up work on the details of the package, which is expected to come out as early as Tuesday.

JIJI Press