Japan to decide on AIIB by June

Japan to decide on AIIB by June

Pedestrians walk past a bank in a Central Business District in Beijing on Wednesday. China scored a diplomatic coup by enticing almost 50 countries including key US allies to join the Asian Infrastructure Investment Bank. (AFP photo)
Pedestrians walk past a bank in a Central Business District in Beijing on Wednesday. China scored a diplomatic coup by enticing almost 50 countries including key US allies to join the Asian Infrastructure Investment Bank. (AFP photo)

TOKYO — The Japanese government will decide whether to join a planned Chinese-led investment bank by late June if governance standards and other conditions are met, a senior vice finance minister said Thursday.

If such conditions as fair governance are assured by the proposed Asian Infrastructure Investment Bank (AIIB), "we'll make a decision" on Japan's participation, Isshu Sugawara said at a press conference.

His remarks came after Japan chose not to take part in the new institution by Tuesday's deadline set by China for accepting founding members for the AIIB, citing such concerns as governance standards and the screening process for providing loans.

"Although we've raised these issues with China, we haven't received specific responses," Sugawara said, indicating Japan's stance will not change unless the government obtains answers from China.

The new institution expected to be established by the end of this year will confirm founding members in mid-April and aims to agree on governing rules and investment ratios by the end of June through negotiations.

About 50 countries have expressed intention to become members of the AIIB, but Japan and the United States are standing back from joining.


Do you like the content of this article?
COMMENT

Soldier injured in ambush

NARATHIWAT: A soldier was injured in an ambush in Bacho district on Saturday night, police.

09:58

Beheading of Buddha image in Pattani not religious conflict: ISOC

PATTANI: The decapitation of a Buddha image inside Wat Wimonwathanaram, a Buddhist temple in Sai Buri district of this Muslim-dominated southern border province, was the work of a temple boy and not a religious conflict, the Region 4 Internal Security Operation Command (ISOC)'s advance headquarters said in its release on Saturday.

09:23

Painful transformation begins

Life for many has not really returned to normal as intended after Covid-19 restrictions gradually eased on July 1.

08:00