Russia and Japan Agree to Set Up $1 Billion Investment Fund
TOKYO — Japan and Russia will create a $1 billion fund to invest in joint energy and infrastructure projects over the next five years, the leaders of the two countries said in Tokyo Friday at the end of meetings that looked cozy but fell well short of Japanese expectations.
Prime Minister Shinzo Abe had been hoping for progress on a territorial dispute that prevented them from signing a peace treaty at the end of World War II, but instead had to settle for giving money to Russia for economic projects.
“It would be naive to think we can solve this problem in an hour, but there is no doubt that we need to look for a solution,” Russian President Vladimir Putin said during a news conference with Abe at the end of two relatively short meetings Thursday night and Friday.
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