Japan said Saturday it will launch a $5 billion lending facility to help Asian and other developing countries improve environmental infrastructure. The program was unveiled by Japanese Finance Minister Kaoru Yosano during a two-day meeting of the G20 finance ministers and central bankers.
The aid covers such projects as solar and wind power generation, energy saving, water supply and sewerage systems, and urban transportation systems.
Japan plans to work together with the Asian Development Bank (ADB) and the World Bank as well as commercial banks in providing the aid.
Japan is also mulling a 'Green New Deal' plan at home that would address environmental problems while helping pull the country out of recession.
Environment Minister Tetsuo Saito is expected to announce a push for wider use of solar panels at schools and government buildings to be included in an economic stimulus package now being drafted.
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