Japan pledged on Monday (21 June) $10bn in financial aid to ASEAN states in order to help their progress with energy transition.
Japan’s Minister of Economy, Trade and Industry Hiroshi Kajiyama set out a variety of support measures in a virtual meeting with ASEAN energy ministers, including a roadmap for changes.
“We propose the Asian Energy Transition Initiative as a package of Japanese support for realistic transitions in Asia towards carbon neutrality,” Kajiyama told the meeting, in which 10 ASEAN countries participated.
Public and private
The financial support will include loans and investment from both the public and private sector in Japan.
In an interview with Reuters, Takeshi Soda, director for international affairs at the industry ministry, said projects in mind include building gas-fired power stations and liquefied natural gas-receiving terminals.
ASEAN member countries are: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Papua New Guinea and Timor Leste have observer status.