Corruption, environment, governance issues must be addressed before Japan weighs AIIB entry: Abe

Lightning strikes the Alpine mountains over Garmisch-Partenkirchen as balloons, made by the "ONE" campaigning organization, depicting leaders of the G-7 countries are inflated Sunday, when leaders of the Group of Seven (G7) industrial nations met on in the Bavarian Alps for a summit overshadowed by Greece's debt crisis and ongoing violence in Ukraine. Leaders are (from left) German Chancellor Angela Merkel, U.S. President Barack Obama, French President Francoise Hollande, Prime Minister Shinzo Abe, British Prime Minister David Cameron, Italian Prime Minister Matteo Renzi and Canada's Prime Minister Stephen Harper. Abe said Sunday Japan is wary of joining the China-led Asia Industrial Investment Bank until the nation addresses corruption issues. | REUTERS

Reuters

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Jun 8, 2015

GARMISCH-PARTENKIRCHEN, GERMANY – Leaders of the Group of Seven industrial nations discussed a new Chinese-led Asian investment bank at their summit on Sunday, with Prime Minister Shinzo Abe underlining the need to address issues like corruption, his spokesman said.

While 57 countries, including G-7 members Britain, Germany and France, have joined the Asian Infrastructure Investment Bank (AIIB) as founding members, Japan and the United States have stayed out of a venture seen as a rival to the U.S.-dominated World Bank and Japan-led Asian Development Bank (ADB).