Japan plans 4.8 bln USD loan fund for climate change

15/05/2008 -- 12:35 PM

Tokyo (VNA) – Japan plans to set up yen-denominate loan fund of 500 billion yen (4.8 billion USD) to help developing countries fight global warming over the next five years, the Kyodo News said on May 15. The first batch of the new loans would go to Indonesia. Nigeria and Guyana are also recipient candidates of aid in the future. The new yen loans would carry annual interest rates of 0.4-0.5 percent, less than half of the already low interest rates of 1.0-1.2 percent now charged on 40-year loans provided by Japan . Japan's new loans will be focused on alternative energy projects such as wind and solar power generation, the installation of energy-saving equipment at power plants and forestation projects, according to the Kyodo News. As the host of the summit of the Group Of Eight nations in July this year, Japan is hoping to shape the course of negotiations on a new climate treaty, which would cover the period after the Kyoto Protocol's obligations expire in 2012- Enditem
Send this page	Print

China mobilises all to battle against disaster (14/05/2008)

Officials from Mekong basin, Japan meet in Laos (13/05/2008)

Fifteen dead in southwest China earthquake (12/05/2008)

DPRK opens trade fair to the world (12/05/2008)

Indian railways to sign MoU with French counterpart (11/05/2008)

Rok reports fresh outbreak of bird flu (11/05/2008)

More bird flu cases reported in India and Japan (10/05/2008)

RoK fears bird flu may spread nationwide (09/05/2008)

Chinese President calls for closer ties with Japan (09/05/2008)

Eastern Japan jolted in series of earthquakes (08/05/2008)