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$2.4bn Japan fund to help decarbonization in 26 ASEAN cities

Tokyo also to pave way for companies seeking smart-city projects in 10 nations

TOKYO -- The Japanese government will set up a fund worth 250 billion yen ($2.4 billion) to support Japanese companies' "smart-city" projects in Southeast Asia, in competition with Chinese, South Korean and other foreign rivals, and to help further decarbonization measures.

The government will encourage Japanese companies to participate in projects in 26 cities in the 10 members of the Association of Southeast Asian Nations, including Hanoi, Ho Chi Minh City, Jakarta, Bangkok, Singapore and Kuala Lumpur.

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