Japan to postpone decision on new China-led bank

Japan to postpone decision on new China-led bank
This meeting in Beijing last October laid the groundwork for the AIIB.

TOKYO - The Japanese government will not decide on whether to join the new China-led development bank before the March 31 deadline set by Beijing, citing such issues as transparency at the institution.

China requested that countries interested in joining the Asian Infrastructure Investment Bank sign a memorandum of understanding by the end of March. Some believe that founding members will be given priority on the bank's projects.

Tokyo decided Tuesday that it does not have enough information to commit to the AIIB at this time.

"It would be difficult for us to join, since we have not received any response to the questions we posed," Japanese Finance Minister Taro Aso said in a news conference that day.

"It's not a decision we can make right now," said another high-ranking official. "We need to see how things go."

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