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Today's Briefing
We need to spread innovation to every corner of Asia. There is no room for cheap and subpar. Japan is determined to play a major role in providing funds so the preference for innovative projects takes roots in Asia.
– Shinzo Abe
Japan's prime minister
Japan will raise infrastructure investment in the AIIB-rival ADB by 30%, or $110 billion over 5 years, Abe said May 21. On May 20, the World Bank announced loans for infrastructure worth up to $12 billion to Indonesia. Neither Japan nor the U.S. are members of China's AIIB.
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May 21st, 2015
Colombian forces killed killed 18 FARC rebels in air and ground strikes on Guapi, in the western region of Cauca Department, a known drug trafficking area. It was the first major airstrike since President Juan Manuel Santos lifted a suspension of airstrikes in April, when FARC killed 10 soldiers.
On May 21, Japan signed over the promised $1.5 billion, which brought the fund up to $5.47 billion, or above the 50% threshold that triggers its operations. The U.S. treasury told Reuters in April that it was working with Congress to fulfill its $3 billion pledge.
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