Infrastructure fund for Asean

At its annual governors’ meeting in Manila, the Asian Development Bank announced Thursday, May 3, the establishment of the Asean Infrastructure Fund (AIF), the largest financing initiative for the 10 member-countries of the Association of Southeast Asian Nations. The Fund, with initial equity of US$485-M, aims to help fund crucial infrastructure needs in the region such as road, rail, power, water and other critical projects. The ADB would provide additional co-financing for every AIF project through long-term loans of 15 to 20 years.

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