The government will secure enough of the drug Avigan to treat 2 million people as part of its emergency economic measures to fight the spread of the new coronavirus, according to a draft of the measures seen by The Yomiuri Shimbun.
The measures are set to be compiled by as early as Tuesday.
The emergency package will place the highest priority on preventing the further spread of infections. In addition to securing Avigan, a drug intended to treat new strains of influenza that could also be effective against the new coronavirus, the package will provide assistance for installing high-performance ventilation equipment in restaurants and other establishments.
Avigan was found to have been effective in treating patients in China infected with the new coronavirus. The Japanese government is conducting clinical trials in the process toward granting official approval for its use.
According to the draft, the package will describe the outbreak as the "biggest economic crisis since the end of World War II." The government will implement measures in two phases, starting with emergency assistance and followed by a V-shaped recovery.
Over the two phases, the emergency measures will focus on five fields: preventing the further spread of infections, upgrading the medical system and developing therapeutic agents; helping maintain employment and business continuity; restoring economic activities; building a resilient economic structure; and making preparations for a future outbreak.
The production of Avigan will be increased in a bid to prevent the further spread of the coronavirus.
When it comes to securing vacant beds, the government will increase the number of beds at medical institutions designated for dealing with infectious diseases, while also raising medical treatment fees as an exceptional measure.
The government will also provide subsidies for boosting the production of ventilators and extracorporeal membrane oxygenation (ECMO) machines.
Meanwhile, to help maintain employment and businesses continuity, the government will offer cash to individuals and companies to make up for shortages in income, while also establishing a scheme to provide essentially interest-free and unsecured loans through private financial institutions.
For the tourism, transportation, food services and event-organizing sectors, major campaigns will be carried out to stimulate demand.
For the tourism industry, the package will include about 1 trillion yen to subsidize half the cost of accommodations in Japan, while also distributing coupons that can be used at souvenir shops and tourist facilities, among other purposes.
To ensure the nation's economic security, the package will encourage companies to return to domestic production of high value-added products and materials, as well as masks, pharmaceuticals and other items, or to have several manufacturing bases for such products. The government will also promote distance learning and online medical diagnosis.
To prepare for a future outbreak of a new coronavirus, the government will establish a reserve fund worth more than 1 trillion yen.
While the size of the emergency package has not been finalized, the government aims to make it the largest ever, to exceed a similar package of 56.8 trillion yen compiled following the collapse of U.S. investment bank Lehman Brothers, according to sources.
Read more from The Japan News at https://japannews.yomiuri.co.jp/
