Japan's energy security plan competes with China's Belt and Road
Japan is accelerating its own version of China's Belt and Road Initiative, focusing on energy networks and supply chains rather than highways and railways. The twin initiatives, named Resilient and Inclusive Supply-chain Enhancement Plus (Rise+) and Dynamic Response for Invigorating Value Chains and Energy Security (Drive), are being rolled out in cooperation with the World Bank. World Bank president Ajay Banga traveled from Washington to Tokyo to sign an agreement with Japan's finance minister Satsuki Katayama on June 1 for the latest phase. This joint project reflects increasing regional fragmentation as Japan competes rather than dovetails with China's infrastructure push.
Key facts
- Japan is rolling out its version of the Belt and Road Initiative at an accelerating pace.
- Japan's project focuses on energy networks and supply chains, unlike China's highways, railways, and sea lanes.
- The initiatives are named Resilient and Inclusive Supply-chain Enhancement Plus (Rise+) and Dynamic Response for Invigorating Value Chains and Energy Security (Drive).
- World Bank president Ajay Banga traveled from Washington to Tokyo to sign an agreement on June 1.
- Japan's finance minister Satsuki Katayama signed the agreement with Banga.
- The Japan-World Bank cooperation reflects increasing regional fragmentation.
- Japan's project competes with rather than dovetails with the Belt and Road Initiative.
Entities
Institutions
- World Bank
- Government of Japan
Locations
- Japan
- China
- Washington
- Tokyo