Japan, China Create $2 billion Green Fund
Japan and China are planning to establish a joint fund of Y200 billion ($2 billionish) with each country putting half that amount into the kitty for the purpose of environmental protection.
Japan wants to lend China more money since scheduled low-interest yen loans are due to end by March of 2008 (the end of Japan's fiscal year.)
Japan's loan is expected to appease hard-liners towards China.
The fund will be extended to small and midsized companies in China.
Think wastewater treatment and pollution prevention.
Japan also wants to send experts in pollution control to China to encourage the hiring of retired Japanese.
If Japan can get China to rely more on what Japan has to offer, those in Japan's government will be less likely to maintain their opposition to working with the China.
Money does make negotiations go more smoothly sometimes, eh?
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