Japan's Abe to pledge $24b aid to Asean: Reports
TOKYO (AFP) - Japan will pledge two trillion yen (S$24 billion) in aid to South-east Asian countries at a 11-nation summit this weekend as it looks to shore-up ties in a region increasingly dominated by China, reports said on Friday.
In a summit of Japan and 10 members of the Asean, Prime Minister Shinzo Abe will announce two trillion yen in loans and grants over five years, public broadcaster NHK and business daily Nikkei reported.
Abe will also announce an expansion of the existing Japan-Asean Integration Fund aimed at economic integration of South-east Asian countries with a fresh 10 billion yen, the reports said.
The summit comes at a time when Japan is re-engaging with the region after several years in which it has been muscled out by China's growing economic might.