The Japan Financial Services Agency published a transcript of Finance Minister Katayama's press conference following the Japan-Pacific Island Countries finance ministers' meeting and the Asian Development Bank annual meeting, setting out Japan's current regional support measures rather than announcing a standalone new rule. The remarks highlighted Japan's work with the United States, Australia, New Zealand and the World Bank on a centralized settlement institution intended to help preserve correspondent banking services in Pacific island countries, and confirmed that Japan and the Asian Development Bank have launched the Energy Action Framework for Long-term Resilience, or ACCEL, to support countries affected by the situation in the Middle East. Katayama said the Pacific discussions, attended by 13 countries, also covered stronger disaster risk financing through disaster insurance and technical support, along with capacity building to improve mobilisation of tax and tariff revenues. At the ADB meeting, he said Japan would provide USD 20 million to the bank's new CMM-FPF facility so developing member countries can play a larger role in critical minerals supply chains, and that he had signed the contribution agreement at a critical minerals seminar. Asked about the exchange rate, he reiterated that Japan would take resolute measures against speculative movements in line with the memorandum of understanding agreed with the United States last year.
Japan Financial Services Agency 2026-05-13
Japan Financial Services Agency publishes finance minister remarks on Pacific correspondent banking support and USD 20 million ADB critical minerals facility contribution
The Japan Financial Services Agency published a transcript of Finance Minister Katayama’s press conference after the Japan–Pacific Island Countries finance ministers’ meeting and the Asian Development Bank annual meeting, outlining Japan’s regional support measures. Katayama highlighted cooperation with the United States, Australia, New Zealand and the World Bank on a centralized settlement institution to preserve correspondent banking in Pacific island countries, the launch of the ACCEL Energy Action Framework with the ADB, and a USD 20 million Japanese contribution to the bank’s new CMM-FPF facility for critical minerals supply chains. He also reiterated that Japan stands ready to take resolute measures against speculative exchange rate movements.