Tokyo, 12 November, /AJMEDIA/
Japan plans to provide around 10 billion yen to an ASEAN-related research institution, sponsored by Tokyo, in a bid to expand regional cooperation, a government source said.
Prime Minister Fumio Kishida is expected to announce the donation to the Economic Research Institute for ASEAN and East Asia, or ERIA, at a special summit between Japan and the Association of Southeast Asian Nations in December in Tokyo, the source said.
The decision comes as Japan looks to capitalize on economic growth in Asia by strengthening relations with developing and emerging countries called the “Global South,” while trying to counter China’s increasing influence in the area.
Under the initiative, the Jakarta-based organization will set up a new framework for business, public and academic sectors to coordinate to offer funds to entrepreneurs and researchers with promising business proposals, according to the source.
It will also launch a new “Asia zero emissions” center to help achieve decarbonization in the ASEAN region, the source said.
To facilitate human resource development, ERIA may also establish a section to accept government officials from ASEAN nations in an attempt to address cross-regional policies and promote people-to-people exchanges.
The Kishida government is set to secure finances for the project with ASEAN members through a supplementary budget for the current fiscal year through March 2024 and an annual budget for the following year from April, the source said.
