Australia would set up a bank to support loans to Pacific island nations, under a plan unveiled by the Labor opposition party that seeks to maintain Canberra's influence as China expands its reach in the region.
Labor leader Bill Shorten, who is on track to win the next election, said the proposed new infrastructure investment bank would help to build roads, ports and water, communications and energy facilities.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you