Japanese government and Japan Bank for International Cooperation (JBIC) will launch a new funding scheme for infrastructure development in developing and emerging countries. The new facility will provide financial aids of some 50 billion dollars to domestic and international private sector being engaged in infrastructure projects which contribute to environment conservation. It is considered the fund will boost Japanese businesses planning quality infrastructure projects such as renewable energy, urban railways, and smart city development in emerging countries.
The facility to be founded in July will target at Asia and Africa. JBIC will be responsible for identifying and selection of the projects which are to receive financial support according to Japanese Ministry of Finance.