Debt relief Japan recognizes its international responsibility to make efforts with developing countries and other developed countries to find a solution to the worsening accumulated debt problem. Japan has been implementing the following activities and will continue to do so. Japan is promoting the steady expansion of official development assistance, as well as the flow of new funds to developing countries, in order to enhance self-help efforts of the developing countries. After the end of the implementation of the Financial Recycling Scheme, Japan has continued its assistance to the Philippines and Argentine regarding the application of the Strengthened Debt Strategy. As regards official debt, Japan has implemented debt relief measures through the Paris Club System.
Japan applies special measures based on long-term rescheduling.
In addition to highly evaluating the activities of the private sector, Japan provides assistance for such activities of NGOs as those indicated in Chapter 27, and will continue to provide such assistance. In May 1993 the Japan Fund for Global Environment, based on contributions from the national government and the private sector, was established. The Fund will provide assistance for the activities of NGOs for global environmental conservation. It will also provide assistance to them concerning information, human resources, etc., which constitute a basis of such NGO activities.