(Construction) - Japanese Ministry of Foreign Affairs held the first meeting of an expert panel on the utilization of private funds for Official Development Assistance on March 1st in Tokyo.
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| Expert panel held to discuss utilizing private funds for ODA projects |
Strengthening collaboration with various entities, regardless of public or private affiliation, is on the agenda. Exploring the potential to alleviate risks faced by the private sector in developing countries through ODA to further mobilize private funds for development is also under consideration. The panel aims to compile recommendations this summer and submit them to Foreign Minister Yoko Uekawa.
The Expert Panel on Mobilizing New Funds for Development was chaired by Professor Izumi Ohno of the National Graduate Institute for Policy Studies. Foreign Minister Uekawa explained the international landscape underlying the discussion, noting, "Many private enterprises and investors are actively engaged in promoting sustainable finance for realizing a sustainable society." She emphasized the importance of exploring new approaches to ODA without being bound by precedent, focusing on how to mobilize private funds through ODA as a catalyst.
Last June, the government formulated a development cooperation policy framework. The framework outlines plans to strengthen the implementation base of development cooperation by enhancing collaboration with private enterprises and government-related agencies, as well as by facilitating the mobilization of private funds. The expert panel will delve into specific strategies moving forward. (2024/03/05)
The Daily Engineering and Construction News of Japan
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