Arab Today, arab today japan pledges 61bn aid to mekong five in bid for influence
Last Updated : GMT 02:05:18
Arab Today, arab today
Arab Today, arab today

Japan pledges $6.1bn aid to 'Mekong Five' in bid for influence

Arab Today, arab today

Arab Today, arab today Japan pledges $6.1bn aid to 'Mekong Five' in bid for influence

'Mekong Five' leaders
Tokyo - AFP

Japan on Saturday pledged $6.1 billion in financial aid to the "Mekong Five" countries as it pushes infrastructure exports and courts influence in a region where rival China has an increasing presence.

Prime Minister Shinzo Abe unveiled the pledge at a summit with his counterparts from Cambodia, Laos, Myanmar, Thailand and Vietnam -- fast-growing economies through which the lower section of the Mekong river flows.

"Japan will implement support worth around 750 billion yen ($6.1 billion) in official development assistance for the next three years," Abe told a news conference following the seventh annual Japan-Mekong summit.

"The Mekong region, which has vast demand for infrastructure, is one of our most important areas," Abe said.

"Japan will contribute to infrastructure development of the region in both quality and quantity," he added. "The Mekong region and Japan are partners that will develop together."

It was not immediately clear if the pledge included previously-earmarked Japanese financial assistance, or whether it was made up entirely of newly-allocated funds.

"The Mekong region is the most dynamic economic centre, but there still is room for huge growth," Thai Prime Minister Prayut Chan-O-Cha told the news conference.

The meeting came as the leading Nikkei business daily said Friday that three Japanese companies had secured an order worth over 32 billion baht ($947 million) to equip a railway linking Bangkok with nearby suburbs.

The Japanese government plans to offer loans to cover part of the cost, the newspaper said, a common sweetener that helps clients afford these kind of big-ticket projects.

Abe has upped efforts to sell highways, train systems and power plants around the world, a key element in his bid to bolster the economy and Japan's standing abroad.

- Influence -

Beijing's growing financial muscle, as well as its increasing willingness to throw its diplomatic weight around, have added urgency to Japan's efforts to step up engagement in the battle for regional sway.

Chinese Premier Li Keqiang said in November at a summit in Myanmar that Beijing's strategic partnership with the 10-member Association of Southeast Asian Nations (ASEAN) grouping was entering a "diamond decade leading to broader and deeper cooperation".

Then in March, Foreign Minister Wang Yi said China hoped to boost trade with ASEAN countries to $500 billion this year and $1 trillion in 2020.

Beijing's new Asian Infrastructure Investment Bank has also upped the stakes, rivalling the Tokyo-backed Asian Development Bank and offering the kind of financial firepower rapidly-developing countries are keen to tap.

In a bid to counter the Chinese move, Abe in May announced a $110 billion investment plan for infrastructure projects in Asia, including in the "Mekong Five" states.

Japan is keen to be seen as the benevolent giant in the region and has worked hard to burnish a reputation as the nation bold enough to push back against China in territorial and other disputes.

Tokyo has its own spat with Beijing over islands in the East China Sea, but is increasingly vocal over China's ambitions to control almost the whole of the South China Sea.

Vietnam is one of a number of countries that have territorial disputes with Beijing over this busy shipping area.

Siding with Tokyo and Hanoi, the participants jointly expressed "concerns" over the territorial disputes involving Beijing, saying in a statement that they "will further complicate the situation and erode trust and confidence and may undermine regional peace, security and stability."

But the meeting avoided touching upon other sensitive issues for the region, including a growing migrant crisis.

Some 100 Myanmar and Japanese people staged a rally in light rain over Myanmar President Thein Sein's prescence at the summit, demanding that the Myanmar government release all political prisoners.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan pledges 61bn aid to mekong five in bid for influence Arab Today, arab today japan pledges 61bn aid to mekong five in bid for influence

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 05:58 2017 Saturday ,25 February

US new home sales rise in January

GMT 05:46 2017 Saturday ,25 February

Record unemployment in Brazil

GMT 05:33 2017 Saturday ,25 February

Indian wind power tariffs fall

GMT 05:27 2017 Saturday ,25 February

German construction sector grows
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday