Editor in Chief: Moh. Reza Huwaida Saturday, July 20th, 2019

ASEAN to Provide Funds to Enhance Regional Investments

ASEAN to Provide  Funds to Enhance  Regional Investments

JAKARTA - The Association of South East Asian Nations (ASEAN) will team up with Japan, China, South Korea and the Asian Development Bank (ADB) to provide some 700 million U.S. dollars of funds to enhance the investments in the region, ASEAN Chair Susilo Bambang Yudhoyono said here on Saturday.

"Soon we will fully implement credit guarantee and investment facility an amount of 700 million U.S. dollars," Indonesian president who chairs ASEAN this year said in his remarks to open the 18th ASEAN Summit here.
ASEAN and its three partners will provide 570 million U.S. dollars of that amount; meanwhile the ADB would provide 130 million US dollars.
In a bid to enhance the economy in the region, a joint website of seven stock markets aimed at enhancing the equity market in the region will be launched. The website would enable investors to invest in the market of the bloc through a single window, President Yudhoyono said.

The Indonesian president said ASEAN finance ministers have also joined hands to set up ASEAN Infrastructure Fund in order to support financing the massive infrastructure development in the region.   
"Good infrastructure is an essential requirement to support economy development in the region," President Yudhoyono said. (Xinhua)