Reuters AlertNet Lite - Japan to give $100 mln for new funds with ADB

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Japan to give $100 mln for new funds with ADB

06 May 2007 02:32:29 GMT
Source: Reuters

KYOTO, May 6 (Reuters) - Japanese Finance Minister Koji Omi said on Sunday his government would contribute up to $100 million to two new funds to be set up for promoting clean energy and facilitating the investment climate in Asia.

The new funds will be established in cooperation with the Asian Development Bank, Omi told the opening session of the agency's annual meeting in Kyoto, western Japan.

The ADB said on Friday it would spend at least $1 billion on clean energy projects in 2008, as it seeks to strengthen its role in balancing economic development and environmental concerns in the region.

That would mark a rise of 10 percent or more from this year, when it is expected to invest $900 million in such projects.

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Last updated:Sun May 6 02:33:44 2007