Japan’s Prime Minister offers 61.5 billion euros for developing countries to build infrastructure

Japan's Prime Minister offers 61.5 billion euros for developing countries to build infrastructure

June 27. (EUROPA PRESS) –

Japanese Prime Minister Fumio Kishida on Sunday offered more than 61.5 billion euros ($65 billion) in investment aid for developing countries to build sustainable infrastructure over the next five years.

Kishida has presented this offer during the debates of the G7 summit held this Sunday, at Schloss Elmau, in southern Germany, as reported by NHK News.

Japan’s prime minister has expressed concern that developing nations are struggling with mounting debts as the international community has been responding to the coronavirus pandemic and the conflict in Ukraine.

He also underlined the need for the G7 to create ways to respond to China’s unfair and opaque lending, adding that the seven countries should address the so-called “debt trap” caused by China’s massive lending, in which borrowers will struggle to repay and will fail under Beijing’s influence.

The Japanese leader has promised to offer more than 61.5 billion euros in aid over the next five years, including private funds, for infrastructure projects in developing economies.

Likewise, Kishida has highlighted the seriousness of the security situation surrounding Japan, citing the sending of ships by Beijing to the waters surrounding the Senkaku Islands and its gas explorations in the East China Sea, as reported by ‘The Japan Times’.

“We have seen attempts to change the status quo by force continue and increase in the Indo-Pacific,” Kishida told his G7 counterparts, a senior Japanese government official told the newspaper.

On the other hand, criticizing North Korea for continuing to launch ballistic missiles and for apparently preparing a nuclear test, Kishida stressed that the international community should not give Pyongyang the impression that “an opportunity is open to proceed with missile development.” “.

Finally, Kishida has also asked China to increase transparency regarding its nuclear arsenal.

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