Japan to allocate up to USD 10bn to support Asia's decarbonization

Japan plans to allocate up to $10 billion within the next five years to support effort toward Asia's decarbonization and to double its financial aid to foreign countries' fight against climate change and natural disasters to $14.8 billion, Prime Minister Fumio Kishida announced on Tuesday at the COP26 summit in Glasgow.

"In addition to the $60 billion provided through private and government funding over the five years, which was announced last June, Japan intends to provide up to $10 billion over the next five years to support the decarbonization effort in Asia," Kishida said.

The prime minister noted that the question of surging energy prices arises as "we are moving toward complete decarbonization of Asia and the world."

"Japan intends to double to about $14.8 billion its financial assistance to third countries to implement measures in such area as natural disaster prevention," Kishida added.

Tokyo also intends to allocate up to $240 million to support the forest preservation program, the prime minister noted. (ANI/Sputnik)

( With inputs from ANI )