Japan to provide $17 bn in aid to Asian countries

February 1st, 2009 - 3:32 am ICT by IANS  

Davos (Switzerland), Feb 1 (Xinhua) Japan would provide about $17 billion in development aid to Asian countries, the country’s prime minister said here Saturday.”Japan will support Asian countries by mobilizing funds ranging from Official Development Assistance (ODA), other official flows to private capital,” Taro Aso told delegates at the World Economic Forum (WEF) in Davos, Swiss ski resort.

“For the purpose, Japan is ready to provide ODA not less than 1.5 trillion ($17 billion) yen in total,” he added.

Aso’s Press Secretary Kazuo Kodama said the aid would be spent on infrastructure projects to battle the economic crisis, according to media reports.

Aso all reiterated a pledge by Japan made last November to lend $100 billion to the International Monetary Fund (IMF), which will be used to ensure liquidity for middle-sized and small countries as well as emerging economies.

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