Japan proposes $19 billion green funds and support hydrogen

Japanese Prime Minister Yoshihide Suga proposed 2 trillion yen ($19.2 billion) fund to finance aggressive green projects over the next ten years as a part of additional stimulus initiatives in answer to COVID-19.

He said that Japan needs a source of growth in post-coronavirus and the core of that will be green and digital. He promises to improve the economy through investments in green and digital.

He further said that Japan sees hydrogen, of which there is an inexhaustible deposit, as a new power source and will also build hydrogen planes and hydrogen cargo ships. The fund would continue to help companies who are interested in ambitious environmental innovation over the next 10 years.