Melbourne, Australia AP —Australia announced a multimillion-dollar agreement with Nauru on Monday that gives Canberra a veto right over a range of pacts the tiny Pacific atoll might want to enter with third countries, including China. Australia offered 140 million Australian dollars ($89 million) over five years to the remote nation’s population of 12,000 under the treaty to be implemented next year, including 40 million Australian dollars ($26 million) to enhance policing and security. “The treaty allows Australia to strengthen regional ties and cement its leading role as the development and security partner of choice,” she said. A key part of the deal is that Nauru will retain an Australian bank. The Commonwealth Bank of Australia will open a branch in Nauru next year after Australia’s Bendigo Bank withdraws from the country.

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Persons: Anthony Albanese, David Adeang, Adeang, Meg Keen, ” Keen, ”, ” Adeang Organizations: Australia AP — Australia, Nauru, Canberra, Australia, Pacific, Lowy Institute, Commonwealth Bank of Australia, Australia’s Bendigo Bank Locations: Melbourne, Australia, China, Nauru, Australia’s, Tuvalu, Solomon Islands, South Pacific, Sydney