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Japan to financially support UK nuclear projects www3.nhk.or.jp
The Japanese government will provide financial support for major electronics firms that are involved in the construction of nuclear power plants in Britain.
Increasing exports of infrastructure such as high-speed railway systems is one of the pillars of Japan's growth strategy.
However, Chinese companies have won the bidding for such projects by working closely with the Chinese government.
Japan's government plans to provide funding to help Hitachi and Toshiba to build 5 nuclear power plants in the UK.
The government-affiliated Japan Bank for International Cooperation and the Development Bank of Japan will provide loans and invest in these projects.
The government-linked Nippon Export and Investment Insurance will be asked to provide credit guarantees to encourage Japanese financial institutions to co-finance the projects.
Industry minister Hiroshige Seko is planning to meet his British counterpart, Greg Clark, in Japan this week, to exchange opinions on cooperation between the 2 governments.
Britain's finance minister Philip Hammond told NHK on Thursday in Tokyo that his government welcomes the interest of Japanese businesses and will look carefully at the proposals that have been put forward.
Published Date:2016-12-19
