Thursday, April 02, 2009

Japan Keen on Giving Financial Assistance to Asian Countries

Many people in the developing and poor countries are afraid these days because they feel that the rich countries are too much busy with their own problems and will not have enough money and mind to help the poor countries. The poor countries are suffering a lot from the economic recession and the countries who are dependent on foreign aid and exporting to rich countries are extremely worried about the coming years. Japan is one of the leading donors of Asia and many Asian poor countries and developing countries get a lot of financial aid from Japan. The good thing is that Japanese government is now keen to continue the support.

Reuters reported:

Japanese Prime Minister Taro Aso will pledge fresh support for trade financing and offer up to $20 billion in aid for Asia at a G20 summit on the global economic crisis, an official said on Wednesday.

In a meeting with Indonesian President Susilo Bambang Yudhoyono ahead of the summit, Aso said he would offer a fresh $22 billion in support for trade with developing countries.

Do not jump to the conclusion that Japan is a generous country and it is going to help the other Asian countries without any benefit. Do not forget that Japanese a country dependent on exports and if other Asian countries become too much poorer then Japan will find itself into a difficult position to export.