Japan Provide $50 Bil. Finance Aid for Indo-Pacific Infrastructure

Prime Minister Shinzo Abe said Japan will set up a new $50 billion framework to help finance state-of-the-art infrastructure projects in the Indo-Pacific region, a move aimed at countering China’s growing economic influence, as per news reports.

Under the framework, the state-backed Japan Bank for International Cooperation will make investments and provide loans using public and private-sector funds over the next three years. “We hope this will be of some help to building high-quality infrastructure in the Indo-Pacific region,” Abe told international leaders gathered in Tokyo for a conference on the future of Asia.

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Source: Infrabuddy