TOKYO — Japan said on Wednesday (April 15) it would set up a financial framework worth about US$10 billion (S$12.7 billion) to help Asian countries secure energy resources as the Middle East conflict has intensified competition to secure oil.

The support, aimed at preventing knock-on effects on Japan's own supply chains, would be channelled mainly through state-backed financial institutions such as Japan Bank for International Cooperation and Nippon Export and Investment Insurance.