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Finance

Abe gives OK under ADB criteria

TOKYO -- Japanese Prime Minister Shinzo Abe has no objection to the Asian Development Bank cooperating with the Chinese-led Asian Infrastructure Investment Bank as long as ADB standards are met, he said Friday.

     "For the ADB to jointly finance [projects with the AIIB], the ADB's criteria must be met," Abe said in response to a question by Party for Future Generations member Masashi Nakano at an upper house budget committee meeting.

     ADB President Takehiko Nakao told reporters Wednesday he would consider cofinancing with the AIIB under certain conditions. But the ADB will not lower its lending standards, which include environmental and human rights considerations, he said.

     As for whether Japan will join the AIIB, to be set up later this year, Abe again said "careful consideration is needed" since it is unclear whether the bank will be able to establish fair governance.

     "We haven't received a clear explanation" from China, he said.

(NQN)

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