Japan aims for $13bn in Global South investments: economic minister

Urban mining, medical services and education offer opportunities for cooperation

20231026N India Solar REUTERS

Workers clean solar panels in Gujarat, India. Japan plans to invest in carbon reduction projects in the Global South as part of a $13 billion initiative. © Reuters

ANNA NISHINO, Nikkei staff writer

TOKYO -- Japan is setting a five-year investment target of more than $13 billion to support developing countries in the Global South, a move that aims to deepen ties with growing, resource-rich economies.

The 2 trillion yen ($13.3 billion) in funding would come from investments by Japanese companies backed with government aid, Japan's Minister of Economy, Trade and Industry Yasutoshi Nishimura said in an interview.

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