ID :
151853
Tue, 11/30/2010 - 19:27
Auther :
Shortlink :
https://oananews.org//node/151853
The shortlink copeid
ASEAN INFRASTRUCTURE FUND IN EARLY 2011
KUALA LUMPUR, Nov 30 (Bernama) –- The Asean Infrastructure Fund (AIF) aimed at
integrating the bloc further, will be launched early next year, Second Finance
Minister Ahmad Husni Mohamad Hanadzlah said Tuesday.
The fund, with a target size of US$800 million, is aimed at supporting
infrastructure projects in Asean to catalyse economic integration.
To date, Asean states have pledged US$335 million, the Asian Development Bank
US$150 million and a hybrid capital of US$162 million, bringing the total to
US$647 million, he said at the 7th Asean Finance Ministers’ Investors Seminar
here, Tuesday.
Earlier, Prime Minister, Najib Razak said the outcome of infrastructure
financing support is important to Asean’s growth.
He said a one per cent increase in infrastructure spending in Asia can increase
private consumption by 1-2 per cent of gross domestic product, an important
result that will benefit the wider investment community as well as the Asean
nations.
integrating the bloc further, will be launched early next year, Second Finance
Minister Ahmad Husni Mohamad Hanadzlah said Tuesday.
The fund, with a target size of US$800 million, is aimed at supporting
infrastructure projects in Asean to catalyse economic integration.
To date, Asean states have pledged US$335 million, the Asian Development Bank
US$150 million and a hybrid capital of US$162 million, bringing the total to
US$647 million, he said at the 7th Asean Finance Ministers’ Investors Seminar
here, Tuesday.
Earlier, Prime Minister, Najib Razak said the outcome of infrastructure
financing support is important to Asean’s growth.
He said a one per cent increase in infrastructure spending in Asia can increase
private consumption by 1-2 per cent of gross domestic product, an important
result that will benefit the wider investment community as well as the Asean
nations.
