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Japan pledges US$6 billion development aid to Mekong nations

Japan pledges US$6 billion development aid to Mekong nations

Japan pledges $6 billion aid to Mekong Five

The Seventh Mekong-Japan Summit Meeting is held on July 4, Saturday in Tokyo. Japan pledges to extend around US$6 billion in development aid to Mekong region nations for the next 3 years.

The Seventh Mekong-Japan Summit Meeting was hosted by Japanese Prime Minister, Shinzo Abe, attended by Vietnam’s Prime Minister Nguyen Tan Dung,Cambodia's Prime Minister Hun Sen, Laos' Prime Minister Thongsing Thammavong, and Thailand's Prime Minister Prayuth Chan-ocha.

The “Mekong Five”, Cambodia, Laos, Myanmar, Thailand and Vietnam, believe to have strong economic growth potential. Japanese exporters for railway systems, power plants and other infrastructure considered them as promising destinations for development.

For the next three years, Japan will not only pledge US$6 billion for the region countries, it will assist them in basic infrastructure, talent nurturing, disaster prevention, water management and enhance the cooperation between international organizations and non-governmental organizations.

In May, 2016, Japan disclosed a plan to provide US$110 billion in aid for assisting the development of high quality and environmental friendly infrastructure projects in Asia. This announcement marks the contrast with the China-led Asian Infrastructure Investment Bank (AIIB).

Updated : 2021-09-26 18:15 GMT+08:00