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Quad countries make $50-bn infra push for Indo-Pacific to counter China

Without naming Sri Lanka, the Quad leaders also resolved to address debt issues of countries in the region

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(Left to right) Australian Prime Minister Anthony Albanese, US President Joe Biden, Japanese Prime Minister Fumio Kishida and Prime Minister Narendra Modi, in Japan | PTI

3 min read Last Updated : May 25 2022 | 12:01 AM IST

As a counter to China’s Belt and Road Initiative, the Quad nations — India, the US, Japan and Australia — on Tuesday agreed to extend more than $50 billion of assistance to the Indo-Pacific region over the next five years to bridge the infrastructure gaps.

“We reaffirmed our shared commitment to deepen cooperation on infrastructure, which is critical to driving productivity and prosperity in the Indo-Pacific region. We are committed to working closely with partners and the region to drive public and private investment to bridge gaps,” the Quad leaders said in a joint statement.

Briefing reporters at the end of the two-day visit of Prime minister Narendra Modi to Japan, Foreign Secretary Vinay Mohan Kwatra said the Quad leaders mentioned that the filling up of the infra gaps had to be in a manner that it did not result in unsustainable burden and unsustainable bouquet of projects.