Another USD 230 mn in budget support from Japan: Japan has pledged USD 230 mn in financing to support the state budget, Finance Minister Mohamed Maait told Asharq Business on the sidelines of the World Economic Forum’s special meeting in Riyadh. Maait also highlighted potential investments available to the Japanese business community during a meeting with Japan Bank for International Cooperation Governor Nobumitsu Hayash i on the sidelines of the event.

Maait also pushed for soft, non-traditional development finance from multilateral development banks to bridge the financing gap for emerging economies, during a meeting with Multilateral Cooperation Center for Development Finance CEO Zhongjing Wang on the sidelines of the Islamic Development Bank annual meeting in Riyadh, according to a statement.

The finance minister’s case: “Multilateral development cooperation must be strengthened to fill the financing gaps of emerging economies with low-cost mechanisms and tools that are more appropriate and able to adapt to … global crises and their repercussions and negative effects,” Maait explained.

Remember: We also got wind of another batch of budget support coming our way from a sovereign lender, with news that Egypt could also see USD 400 mn in budget support from the UK over the next two years.

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