(Construction) - The G7 Summit was held for three days from May 19 to 21 in Hiroshima City. Prime Minister Fumio Kishida chaired the discussions, and the leaders adopted a summit statement. The statement included the intention to further strengthen support for developing countries in the development of quality infrastructure.
Through infrastructure investment, the G7 will contribute to sustainable development in developing countries, for example by promoting the use of clean energy. On the same day, Prime Minister Kishida announced the establishment of a $4 billion (approx. 550 billion yen) loan package by the Japan International Cooperation Agency (JICA) to support projects in areas such as climate change.
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| Japan announces $4 billion support for infrastructure investment in developing countries at G7 Summit in Hiroshima |
According to the statement, the G7 will aim to accelerate sustainable development on a global scale by boosting infrastructure investment in developing countries, with the Partnership for Global Infrastructure and Investment (PGII), established by the G7 at its June 2022 summit in Germany, at its core. Prime Minister Kishida, together with U.S. President Biden and European Commission President von der Leyen, held a side event on the PGII on May 20, reaffirming the G7's commitment to mobilize private funds for infrastructure investment in developing countries in cooperation with a wide range of stakeholders.
Prime Minister Kishida stated that Japan is promoting infrastructure investment around the world, particularly in Asia and Africa, with the aim of providing more than $65 billion (about 9 trillion yen) in infrastructure assistance over five years and leveraging private sector funds. He expressed his intention to focus on further promoting high-quality infrastructure investment. (2023/05/23)
The Daily Engineering and Construction News of Japan
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