SUMMARY
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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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