Japanese Prime Minister Shinzo Abe speaks during a banquet of a symposium on the "Future of Asia" in Tokyo Rod Smith Jersey , Thursday, May 21, 2015. Vying to keep pace with China's rising influence and economic clout, Japan plans to provide $110 billion to help develop roads, ports and other infrastructure in Asia in the next five years, Prime Minister Abe said Thursday. (AP PhotoShizuo Kambayashi) Shinzo Abe speaks during a banquet of a symposium on the "Future of Asia" in Tokyo, Thursday Chaz Green Jersey , May 21, 2015. Vying to keep pace with China's rising influence and economic clout, Japan plans to provide $110 billion to help develop roads, ports and other infrastructure in Asia in the next five years, Prime Minister Abe said Thursday.
Vying to keep pace with China's rising influence and economic clout, Japan plans to provide $110 billion to help develop roads, ports and other infrastructure in Asia in the next five years Byron Jones Jersey , Prime Minister Shinzo Abe said Thursday.


Abe announced the commitment, which exceeds the $100 billion China has set for its newly created Asian Infrastructure Investment Bank, at a conference in Tokyo.


It represents about a 30 percent increase over current funding levels.


"Asia has a voracious infrastructure demand, reaching as much as 100 trillion yen (about $830 billion) annually," Abe said, adding that "we should seek 'quality as well as quantity.' Pursuing both is perfectly suited to Asia."


In addition to the $110 billion in financing in collaboration with the Asian Development Bank, Japan will provide 4 trillion yen ($33 billion) in support for public-private lending over the next five years Maliek Collins Jersey , Abe said.


Japan sided with the U.S. in not joining the 57 countries that have signed on to the Beijing-initiated AIIB. It says it wants to see if the new institution will meet the rigorous standards for operation and disclosure required of other lenders, such as the Asian Development Bank and World Bank.


Officials earlier announced plans to step up support for regional infrastructure investment