Across Asia: Japan

$1.93b environment fund

Japan is planning to invest up to $1.93 billion in an international fund aimed at encouraging the use of renewable energy technology in developing countries, the Nikkei financial daily said yesterday.

The fund, to be set up jointly with the United States and Britain, is expected be the largest ever of its type, with total investment of about 500 billion yen ($4.82 billion), the Nikkei said.

By investing in technologies such as wind and solar power in less developed countries, participating governments hope to encourage private finance to follow suit, the newspaper said without identifying its sources.

(China Daily 03/03/2008 page6)