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Statement by Mr. Taro Aso, Minister of Finance, Japan

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December 15, 2016

Statement by Mr. Taro Aso, Minister of Finance, Japan

 Japan welcomes that the negotiations on the 18th replenishment of the International Development Association (IDA18) have reached an agreement today.

 Japan appreciates this agreement for the following reasons:

i)   priority is being placed on strengthening prevention, preparedness and response against pandemics and natural disasters which is in line with Japan’s development policy priorities; and

ii)   market debt is being issued by IDA for the first time in order to respond to the scaled-up development needs.

 Japan has decided to increase its contribution share to 10.3% from 10.0% by utilizing loan contribution (approx. 292.4 billion JPY) introduced in the previous replenishment, while reducing the grant contribution to approx. 308.8 billion JPY given our severe fiscal situation.