The Japanese government will set up a fund worth 250 billion JPY (some 2.4 billion USD) to support Japanese companies’ smart city projects and to help further decarbonisation measures in several Southeast Asian nations, Nikkei Asia and Vietnam+ report.
The fund will consist of some 50 billion JPY from the Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development (JOIN), a government fund for infrastructure development, and a line of credit worth 200 billion JPY from the Japan Bank for International Cooperation (JBIC).
The government will encourage Japanese companies to participate in projects in 26 cities in 10 member countries of the Association of Southeast Asian Nations, including Hanoi, Ho Chi Minh City, Jakarta, Bangkok, Singapore and Kuala Lumpur.
Japan will ask 26 cities to present plans for developing smart cities by the end of this year and is planning to select eligible projects by spring. The government expects Japanese companies to work out basic plans for the selected cities and conduct feasibility studies.
(Read the full article here.)
Written by: editors Smart City Hub.
Header image: Ho Chi Minh City, Vietnam.