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Japan to freeze loans to China over bad ties
(AP)
Updated: 2006-03-23 11:04 Japan plans to temporarily freeze its yen loans to
China for the current fiscal year because of worsening relations between the two
nations, Kyodo News agency reported Thursday.
A senior Foreign Ministry official told a committee of the ruling Liberal
Democratic Party on Thursday of the decision to freeze the loans, Kyodo said in
the unsourced report.
Japan provided 86 billion yen (US$735 million; euro609 million) in loans to
China in the 2004 fiscal year, which ended March 31, 2005, the news agency said.
The Japanese Foreign Ministry could not immediately confirm the report.
Ties between Japan and China have deteriorated sharply in the past year over
maritime gas deposits, interpretations of World War II history and other issues.
"We have no other choice but to freeze loans considering the situation
surrounding bilateral relations," Kyodo quoted Senior Vice Foreign Minister
Yasuhisa Shiozaki as telling the LDP committee.
China has been notified of the decision through diplomatic channels, it
reported.
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