Germany's Merkel Calls for Japan's Participation in AIIB: Sources

Tokyo, April 15 (Jiji Press)--German Chancellor Angela Merkel has called on Japan to join the Beijing-led Asian Infrastructure Investment Bank as a founding member, Japanese government sources said Wednesday. According to the sources, Merkel made the request during a telephone conversation with Japanese Prime Minister Shinzo Abe on April 1. Abe is believed to have explained Tokyo's concerns over the new international body's structure and sustainability of its lending, the sources said. A total of 57 nations will serve as founding members of the AIIB, where China aims to provide up to 50 pct of contributions to financial resources. Among such members are Germany, Britain, France and Italy, Japan's European Group of Seven peers. Along with Japan, the United States refrained from taking part in the development bank, arguing its management structure and lending screening system are opaque. The Japanese government has not disclosed that Abe talked with Merkel over the phone. END