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TOKYO — The Japanese government will insure loans provided by private lenders used to procure liquified natural gas under short-term contracts, Nikkei has learned, offering public assistance to help businesses secure the key resource.
The government-backed Nippon Export and Investment Insurance (NEXI) will receive premiums from private-sector lenders in exchange for policies that will cover more than 90% of loan amounts. The Ministry of Economy, Trade and Industry will soon announce a new trade insurance mechanism.
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