Tokyo to cut overseas aid

Japan is set to trim its overseas aid budget for the sixth straight year in the next fiscal year as the government steps up efforts to curb spending, budget plans showed on Monday. The government's plans showed it is set to allocate 786.2 billion yen ($7.56 billion) in overseas development aid (ODA) in the next fiscal year from April, down 3.8 percent from this year, although Japan will remain the world's No 2 donor.
The government said it could not provide details on recipients. But a government official said China, which was the biggest recipient of Japanese aid until two years ago, already slipped to third spot this year to rank below India and Indonesia.