The government does not rule out the possibility of joining a China-led development bank to be launched by the year's end and also envisages a possible contribution of up to $1.5 billion to the institution in the event of Japan's participation, according to a draft paper on the institution.
Despite what would be the second-largest contribution after China's, Japan is concerned that such a fiscal burden will not guarantee it influence in the proposed Asian Infrastructure Investment Bank, given the opaqueness in its governance standards, says the draft government paper, a copy of which was obtained Tuesday.
But Tokyo, in close coordination with Washington, which is also staying out of the AIIB, will urge Beijing to ensure fair governance and transparent management of the AIIB in line with international standards, the draft says.