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Japan still 'very cautious' about joining AIIB

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Finance Minister Taro Aso said on Tuesday that Japan remains "very cautious" about joining the China-led Asian Infrastructure Investment Bank (AIIB), indicating that Tokyo will miss the March 31 deadline for application.

[TOKYO] Finance Minister Taro Aso said on Tuesday that Japan remains "very cautious" about joining the China-led Asian Infrastructure Investment Bank (AIIB), indicating that Tokyo will miss the March 31 deadline for application.

Mr Aso reiterated Japan's concerns about governance at the institute, its debt sustainability and environmental and social safeguards. "Unless these conditions are secured, Japan has no choice but to be very cautious about joining," Mr Aso told reporters after a Cabinet meeting.

China has set a March 31 deadline to become a founding member of the AIIB. Sweden and Egypt on Monday became the latest countries to say they plan to join the AIIB, adding clout to an institution seen as enhancing China's regional and global influence.

REUTERS