Japan has launched a $US100 billion ($127 billion) rival to China's infrastructure bank just as competition is breaking out among supporters of the bank over equity and board seats amid a forecast Australia could be the fourth biggest shareholder.
Prime Minister Shinzo Abe announced its rival – the commitment to financing over five years by the Japanese-dominated Asian Development Bank and direct lending to Asian countries – on Thursday night while China was co-hosting a meeting in Singapore on the governance arrangements for the Asian Infrastructure Investment Bank.
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Greg Earl is an editor and writer. He was the AFR deputy editor, opinion editor, Asia-Pacific editor and a correspondent in Jakarta, Tokyo and New York. Connect with Greg on Twitter.
Lisa Murray is Enterprise Journalism Editor and host of The Fin podcast. Connect with Lisa on Twitter. Email Lisa at lmurray@afr.com
