June 28, 2022
TOKYO – Prime Minister Fumio Kishida criticized China by name for its “unfair and opaque” assistance to developing countries during a Group of Seven summit in Elmau, Germany, on Sunday.
During discussions on infrastructure investment, Kishida cited the case of Hambantota International Port, in which Sri Lanka effectively transferred its interests to China after failing to repay debts to the country.
“The G7 countries need to present measures to deal with China’s unfair and opaque financing for development projects,” he said.
Kishida also stressed a determination to spread the importance of fair and transparent development finance for developing countries. For that purpose, the prime minister said he intends to communicate directly with African leaders at the eighth Tokyo International Conference on African Development (TICAD8) to be held in Tunisia in August, which he is scheduled to attend.
Regarding the Partnership for Global Infrastructure and Investment (PGII), a new framework to promote infrastructure, Kishida said Japan will aim to contribute a total of more than $65 billion (about ¥8.8 trillion) to the PGII in government and private investments over the next five years.
“The development of quality infrastructure is important to realize a free and open Indo-Pacific,” Kishida said.