- Japan plans to provide $10 billion in financial aid to ASEAN countries to support their energy transition progress.
- The funds will focus on clean energy and LNG projects.
Japan’s Minister of Economy, Trade and Industry, Hiroshi Kajiyama, has said that Japan will provide $10 billion in financial aid to ASEAN countries to support their energy transition progress. The minister noted that aid would include loans and investments from Japan’s public and private sectors. Aid would focus on LNG and renewables, Hiroshi Kajiyama added at a meeting with energy ministers from ASEAN countries.
Hiroshi Kajiyama added that Asia should not fall behind as this is an opportunity to seek both a transition to a cleaner society system and sustainable growth. “In particular in Asia, where energy demand will grow hereafter, it is essential to seek diverse and realistic energy transition, by utilising possible energy sources and technology, while taking into account each country’s peculiarity of difference in geographic characteristics and development phase” Kajiyama added.
The $10 billion financial support will help ASEAN countries transition to clean energy, adopt energy conversation and develop gas projects, especially as countries phase out coal. ASEAN member countries that would be supported include; Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.