The expansion of China-led infrastructure bank is welcomed by BOJ’s Kuroda

The expansion of China-led infrastructure bank is welcomed by BOJ’s Kuroda

On Tuesday, Haruhiko Kuroda, Bank of Japan Governor appreciated the expansion of China-led Asian Infrastructure Investment Bank, telling that it’s quite positive for the regional economy. The BOJ official urged multinational lenders to fruitfully cooperate in meeting Asia's fast-surging infrastructure needs.

Kuroda stressed that infrastructure needs turn to be enormous and it's not real for the Asian Development Bank as well as the World Bank to fill the gap entirely.

He told that healthy competition from Indian, Chinese as well as Japanese initiatives could be upbeat for improving infrastructure and also stimulating economic surge.

Kuroda's remarks happen to be the strongest endorsement to date by a Japanese official for the surging presence of AIIB that some in Tokyo view as a vehicle to spur China's regional clout.

Japan, following America’s lead under Barack Obama, didn’t join the AIIB, partly due to a concern it would potentially conflict with the Manila-based institution, the ADB, traditionally dominated by the United States and Japan. 

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