Vietnam contributes $10 million to ASEAN infrastructure fund

VietNamNet Bridge – Vietnamese Finance Deputy Minister Tran Xuan Ha told the 17th APEC Finance Ministerial Meeting in Kyoto, Japan, that Vietnam would contribute $10 million to the ASEAN infrastructural fund.

The Finance Ministers who partiicpate in the APEC Finance Ministerial Meeting in Kyoto, Japan

Finance Ministers of the Association of Southeast Asian Nations or ASEAN on November 5 discussed the establishment of the ASEAN Infrastructure Fund (AIF). Accordingly, the fund will raise capital in the form of shares from member governments in three stages and by issuing bonds.

The Asian Development Bank (ADB) and Malaysia committed to contribute $300 million, Indonesia $120 million, Laos and Cambodia $100,000 each, Thailand, the Philippines and Singapore pledged to contribute at least $15 million to the fund.

ASEAN Finance Ministers also considered reporting on the development of the indicators for the ASEAN bond market and organizing the Investment Promotion Conference of ASEAN Finance Ministers on November 30 in Kuala Lumpur, Malaysia.

Source: VietnamNet

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