The U.S. on Nov. 7 signed an agreement with Japan to support the nation's "Partnership for Quality Infrastructure," a program many regard as a rival to China's Belt and Road Initiative. Announced amid President Donald Trump's 12-day swing through Asia, a U.S. government financing agency ratified an agreement with two Japanese financiers to jointly develop infrastructure projects in different countries.
At the Tokyo signing ceremony, the U.S. Overseas Private Investment Corp., the Japan Bank for International Cooperation and the Nippon Export and Investment Insurance company were represented by their respective senior leadership: Ray W. Washburne of OPIC, Tadashi Maeda of JBIC and Kosaburo Nishime of NEXI. Their stated goal is to bolster investment in infrastructure, energy and other critical sectors throughout Asia, the Indo-Pacific, the Middle East and Africa.