Japan pledges $1 billion for ADB fund to combat climate change

Japan will contribute about 160 billion yen to an Asian Development Bank fund to help low-income nations combat climate change. Finance Minister Suzuki Shunichi discussed the donation at an ADB annual meeting in Georgia's capital, Tbilisi on Sunday.

The bank earlier agreed to replenish its fund to support its poorest and most vulnerable developing member nations with 5 billion dollars. Suzuki said Asia-Pacific economies are key to raising global economic growth. He also revealed a plan for Japan to host the ADB's 60th annual meeting in 2027. This would be the first such gathering in the country since one was held in Yokohama in 2017.