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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Japan PM set to announce huge aid package: reports AFP - 2 hours 42 minutes ago TOKYO (AFP) - - Japanese Prime Minister Taro Aso will announce a multi-billion-dollar aid package for Asian countries in a speech Saturday at the World Economic Forum in Davos, reports said. ADVERTISEMENT The three-year package from April 2009, worth 1.5 trillion yen (16.5 billion dollars), would be aimed at boosting the Asian economy through development programmes, including infrastructure projects, Jiji Press and other local media reported, without citing sources. Japan's official development aid, an important diplomatic tool for the pacifist country since the end of World War II, has historically focused on Southeast Asian countries. Aso will also highlight Japan's own efforts to increase domestic demand with stimulus packages worth a total of 75 trillion yen, calling for other nations to adopt similar economic policies, they said. Separately, Trade Minister Toshihiro Nikai and Farm Minister Shigeru Ishiba will propose a plan to cut or lift tariffs on environmentally friendly products at an informal meeting of the Word Trade Organisation to be held on the sidelines of the Davos meeting, the business daily Nikkei reported. The proposal is aimed at promoting trade in goods such as lithium-ion batteries and solar power generation systems, which could help address global warming and are areas that Japanese companies have strength in, it said. Aso left Friday on a lightning visit to the Davos gathering, where he is expected to seek a leadership role for the Asian power in fighting the global slowdown. Aso, embroiled in a stormy session of the politically divided parliament, will spend only a matter of hours in the Swiss mountain resort and return to Tokyo by late Sunday. Despite a fresh round of dire economic news from Japan, Aso has argued that the world's second largest economy is in a strong position to use its resources to jump-start growth. The Japanese leader is expected to also highlight the Asian economy's proposal to lend up to 100 billion dollars to the International Monetary Fund to help emerging countries hit by the economic crisis, officials have said. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy US economy slumps as world crisis tightens gripAFP - 2 hours 48 minutes ago Stocks stumble as investors fear worsening economyAP - Saturday, January 31 Economy, bank woes drag market to worst January everReuters - Saturday, January 31 US STOCKS-Economy, bank woes drag market to worst Jan everReuters - Saturday, January 31 Related Articles: Business Pakistani cenbank sells 16.5 bln rupees of T-billsReuters - 45 minutes ago Thailand plans to borrow $2 bln to boost economyReuters - 1 hour 15 minutes ago US economy slumps as world crisis tightens gripAFP - 2 hours 48 minutes ago Malaysia Airports to build budget terminal - reportsReuters - Saturday, January 31 Sears lays off 300 corporate workersReuters - Saturday, January 31 Enlarge Photo Japan PM set to announce huge aid package: reports Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed US House approves massive economic stimulus bill Soldier suicides hit record in 2008: US Army Financial crisis bringing global economy to standstill: IMF Wen and Putin lash out at US over economic crisis Boeing to cut 10,000 jobs after loss View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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