“Japan, too, is building the New Silk Road. What has generally been posited as a Chinese initiative since Xi Jinping announced the Belt and Road initiative in 2013 is actually a multifaceted, international undertaking which contains many complementary and competing visions from various countries across Eurasia. While China is currently going through the growing pains of being a big time international infrastructure investor, Japan has been at it for decades, providing massive amounts of money and direction for the development of roads, rail lines, metro systems, and ports across Asia via financing vehicles like the Asian Development Bank (ADB) and the Japan International Cooperation Agency (JICA).
On December 1st, it was announced that Japan will soon have another vehicle for its international infrastructure building endeavors in the form of a new joint venture called the Japan Infrastructure Initiative. This JV is made up of Mitsubishi UFJ Lease & Finance (47.55%), Hitachi Capital (47.55%), and Bank of Tokyo-Mitsubishi UFJ (4.9%) and aims to invest $878 million into Japanese-directed infrastructure projects, such as railways and power plants, throughout Asia, Europe, and the USA.”