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19 May 2015
Japan to invest $100B in Asian infrastructure
FXStreet (Mumbai) - The Japanese government is planning to spend up to $100 billion in public-private funding for infrastructure development in countries across Asia over the next five years, Jiji press, a wire service in Japan, reported on Tuesday.
Jiji press notes, "The envisioned assistance is aimed at demonstrating Japan's stance to contribute to building up high-quality infrastructure in Asia through human resource development and technological transfers and showing the difference from the AIIB, so that Japan can keep a high profile in the region,"
"The government will extend yen loans to Asian countries through the Japan International Cooperation Agency (JICA) and lend through the government-affiliated Japan Bank for International Cooperation (JBIC)."
The Abe administration is also contemplating greater financial involvement by the Manila-based Asian Development Bank (ADB), to which Japan is the largest contributor.
Jiji press notes, "The envisioned assistance is aimed at demonstrating Japan's stance to contribute to building up high-quality infrastructure in Asia through human resource development and technological transfers and showing the difference from the AIIB, so that Japan can keep a high profile in the region,"
"The government will extend yen loans to Asian countries through the Japan International Cooperation Agency (JICA) and lend through the government-affiliated Japan Bank for International Cooperation (JBIC)."
The Abe administration is also contemplating greater financial involvement by the Manila-based Asian Development Bank (ADB), to which Japan is the largest contributor.