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Japan Boosts Asia Infrastructure Outlays as China Champions AIIB

Japan and the Asian Development Bank plan to boost funding for what they term high-quality infrastructure projects in Asia to about $110 billion over the next five years.

Prime Minister Shinzo Abe outlined some of Japan’s latest funding plans during a speech in Tokyo on Thursday night, while in Singapore representatives of 57 nations met to thrash out details of how the new China-led Asian Infrastructure Investment Bank will operate.