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Japan allocates $4.5 billion in aid to developing countries over COVID-19 pandemic

04 December 2020 09:39 (UTC +04:00)

The Japanese government announced on early Friday a decision to allocate the sum of $4.5 billion to help developing countries in the fight against the ongoing spread of the novel coronavirus, APA reports citing TASS.

"Japan has been working closely with the international community to overcome the crisis under the concept of human security since the beginning of COVID-19," the statement reads. "To address COVID-19, Japan has already provided foreign aid of 1.54 billion dollars to developing countries in a few months since this February with unprecedented speed."

"The development and delivery of vaccines are critical, as they will turn the tide of the global fight against COVID-19," the statement continued. "Japan has established the ‘COVID-19 Crisis Response Emergency Support Loan’ of 4.5 billion dollars over the next two years. The distribution of funds has already begun."