Japan vows $10 mil. to development bank for Latin America, Caribbean
TOKYO (Kyodo) -- Japan on Monday pledged an additional $10 million to the Inter-American Development Bank, a key financing source for states in Latin
Japan has pledged an additional $10 million to the Inter-American Development Bank (IDB) on Monday, raising its total commitment to $30 million under the Japan Resilience Initiative. The initiative aims to utilize Japan's expertise in critical minerals and economic resilience to support the development needs of Latin America and the Caribbean.
Finance Minister Satsuki Katayama highlighted the region's significance in global critical mineral supply and Japan's ability to provide knowledge on resilient infrastructure and care for the elderly. IDB President Ilan Goldfajn emphasized the growing importance of strengthening ties with the region due to China's export controls on rare earths and Japan's need to enhance economic security.
The initiative is designed to bridge Japan's knowledge and experience with the development needs of the region, addressing social challenges like natural disaster preparedness and an aging population.
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