Japan plans $4.8b loans for climate change

Japan plans to extend up to 500 billion yen (4.8 billion dollars) worth of low-interest loans to developing countries over the next five years to help them fight global warming, a report said Thursday. The first batch of the new loans would go to Indonesia and total some 20-30 billion yen, the Nikkei economic daily said, adding Nigeria and Guyana are also candidates of aid recipients in the future. Japan's government plans to provide the loans for alternative energy projects such as wind and solar power generation, the installation of energy-saving equipment at power plants and forestation projects, it said.

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