IPEF ministerial meeting agrees to promote $120 billion investment in renewable energy. IPEF is an economic partnership framework involving 14 countries.
It is aimed at countering China's increasing influence in the Indo-Pacific region. Agreement in the field of "supply chain" comes into effect. In addition, Japan, the United States, Australia, and South Korea will participate in a fund established in November last year to help decarbonize emerging countries, and it has been confirmed they will provide a total of $33 million in financial cooperation.