Japan and the US closer to joining AIIB

Tokyo

BOTH the US and Japan appear to be moving closer to joining the China-led Asian Infrastructure Investment Bank (AIIB), in the wake of a massive global development initiative launched formally in Beijing this week, in the presence of nearly 30 leading heads of state.

Washington and Tokyo are the only holdouts among international powers, most of which have opted to join the Beijing-based AIIB, which is expected to be a principal source of funding for the mega project initiated by China called One Belt One Road (OBOR).