Illustrative photo (Photo: EPA)Hanoi (VNA) – The Government of Japan has decided to provide 4.5 billionJPY (40 million USD) for the Asian Development Bank to improve regionalinfrastructure.
In a speech delivered at an annual meeting of the ADB in Yokohama, Japan on May6, Japanese Finance Minister Taro Aso said that the fund will be disbursed intwo years for infrastructure development and the application of new technologyin Asia.
The sum is expected to be spent in electric wires system, renewable energy, intelligenttransportation systems, smart cities and remote sensing technologies.
On May 5, Japan also put forward a new bilateral currency swap agreement withthe Association of Southeast Asian Nations (ASEAN), providing up to fourtrillion JPY (36 billion USD) to tackle difficulties in short-term liquidity incrisis.
The proposal was made during a meeting of the Finance Ministers’ and CentralBank Governors’ Meeting of ASEAN and Japan on the sidelines of the annualmeeting of the ADB.-VNA
In a speech delivered at an annual meeting of the ADB in Yokohama, Japan on May6, Japanese Finance Minister Taro Aso said that the fund will be disbursed intwo years for infrastructure development and the application of new technologyin Asia.
The sum is expected to be spent in electric wires system, renewable energy, intelligenttransportation systems, smart cities and remote sensing technologies.
On May 5, Japan also put forward a new bilateral currency swap agreement withthe Association of Southeast Asian Nations (ASEAN), providing up to fourtrillion JPY (36 billion USD) to tackle difficulties in short-term liquidity incrisis.
The proposal was made during a meeting of the Finance Ministers’ and CentralBank Governors’ Meeting of ASEAN and Japan on the sidelines of the annualmeeting of the ADB.-VNA
VNA
