China said Thursday that it has signed a memorandum of understanding with Indonesia that allows Jakarta to join a regional bank led by Beijing to fund infrastructure projects in Asia.
South Korea, Australia and Indonesia were absent last month when China and 20 other countries in the region agreed to set up the Asia Infrastructure Investment Bank (AIIB), amid Washington's concerns over the new regional lender seen as a counterweight to established multilateral lenders such as the Asian Development Bank (ADB).