May 23, 2017

"On May 15, 2017, Japan signaled its intention to join the Asian Infrastructure Investment Bank (AIIB) initiated by Beijing. The condition for membership, as articulated by Japan, is for the AIIB to address Japan’s concerns about the environmental impact of AIIB-funded projects and other matters. Previously, other issues of concern for Japan as suggested by observers included transparency. Tokyo is also keen to have more assurance that countries taking loans from the AIIB can sustain their debts.  

Japan had never rejected joining the AIIB. At different phases, it was keen to seek more information and/or have more assurances that the organization was transparent, ethical (in the environmental realm), and not detrimental to Japanese interests and values. For example, there were earlier perceptions that the AIIB would be laxer on environment regulations for projects like coal-fired power plants which the Tokyo- and Washington-led Asian Development Bank (ADB) was less keen to support, unless they are of the clean coal variety. Such perceptions contributed to dissonance in understanding the funding philosophies embodied in the two bodies, as perceived by Japan and other environmentally-conscious states."

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http://www.ippreview.com/index.php/Blog/single/id/443.html