A total of ¥69.7 billion in special loans extended by Japan Finance Corp. and Shoko Chukin Bank to small businesses hit hard by the COVID-19 pandemic are uncollectable, a report by the Board of Audit of Japan shows.
Government-affiliated financial institutions provided a total of ¥21.87 trillion in the special loans between January 2020 and March this year.
Of the total, the audit board investigated ¥19.44 trillion in some 1.18 million cases of such financing by JFC and Shoko Chukin Bank.