Arab News Japan

TOKYO: Japan’s Foreign Minister HAYASHI Yoshimasa on Friday said the steep depreciation of the yen against the dollar will not affect overseas development assistance (ODA).

In response to a question from Arab News Japan, Hayashi said: “In light of the impact of the yen’s depreciation and rising prices, the supplementary budget approved by the Cabinet included additional budgeting for the affected ODA projects currently under way.”

“In this supplementary budget, the ODA budget, which includes assistance to Ukraine and assistance to developing countries such as Asia, the Middle East and Africa, will increase significantly on a dollar basis compared to the previous year.”

Hayashi said ODA is an important policy tool for Japan’s foreign policy and he expects Japan to expand its assistance program.

“Despite the yen’s depreciation, Japan will continue to work to secure the necessary budget to ensure that ODA can be fully expanded and diplomatic efforts can be strengthened,” he said.