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Finance

MUFG to help ASEAN adopt tech for slower shift away from carbon

Japanese bank plans lending criteria less stringent than EU's

ASEAN, heavily reliant on fossil fuels, will need funding to upgrade facilities to achieve carbon neutrality.    © Reuters

TOKYO -- Japan's MUFG Bank will work with other lenders to finance projects that will help Southeast Asia's exit from fossil fuels using transitional technologies more suited for the region's own economic needs. 

Under so-called transition financing, the top Japanese bank and peers will use a list of transitional technologies compiled by an independent think tank to make investment decisions.

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