Japan to Provide 3 B. Dollars in Aid to Southeast Asia

Politics Economy

Tokyo, Dec. 2 (Jiji Press)--Japan plans to provide Southeast Asia with 3 billion dollars in economic aid over the three years from 2020, Foreign Minister Toshimistu Motegi said Monday.

The economic assistance is designed to help Japan counter China's growing influence in the Association of Southeast Asian Nations.

The aid highlights "Japan's policy of providing new economic options and working to achieve free and fair economic development throughout the ASEAN region," Motegi said in a speech in Tokyo.

Specifically, the aid will cover three fields--electricity and other infrastructure development, support for female entrepreneurs as well as small and midsize businesses, and renewable energy projects.

The sum includes 1.2 billion dollars in loans and investments by the Japan International Cooperation Agency. The rest will be financed by private-sector banks.

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Jiji Press