Australia launches $1.5 billion Pacific fund to counter China's influence

Australia will offer Pacific countries up to A$3 billion ($2.18 billion) in grants and cheap loans to build infrastructure, Prime Minister Scott Morrison said on Thursday, as Canberra seeks to counter China's rising influence in the region. Australia and China have been vying for influence in sparsely populated Pacific island countries that control vast swathes of resource-rich oceans.

from Reuters: World News https://ift.tt/2PiugJ1