ASEAN Infrastructure Fund kicks off

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ASEAN infraThe Asian Development Bank (ADB)-supported ASEAN Infrastructure Fund (AIF) has readied $1 billion to begin operations for lending projects by the second half of 2013, a release by the ADB confirmed.

The first round of funds will roll out over the next three years to support priority projects outlined in the Master Plan on ASEAN Connectivity.

The AIF is the largest joint initiative ever realised by the ASEAN community, and was established with equity investments from each ASEAN nation, except for Myanmar.

ADB is also a shareholder, with the AIF’s equity capital reaching about $485.2 million, a figure that will be augmented with hybrid long-term bonds, an instrument with equity characteristics,” Principal Economist Jin Cyhn of the ADB, a specialist on the fund, told Inside Investor.

The kick-off of the fund was announced at a meeting of the AIF Board of Directors in New Delhi, where members discussed progress of the infrastructure projects outlined, efforts to support PPP projects, and fiscal-policy and risk-management frameworks.

“AIF’s first year was an active one,” said Bambang Brodjonegoro, Head of the Fiscal Policy Agency at Ministry of Finance of Indonesia and Co-Chair of the AIF. “What AIF has accomplished this year was to lay the groundwork for projects to come, and the progress to be made, in the years ahead.”

The areas of progress concerned include the receipt of the first equity investments from each shareholder nation, completion of all legal exemptions and privileges from the Government of Malaysia, and completion of all necessary administrative arrangements for the full operations.

 

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Reading Time: 1 minute

The Asian Development Bank (ADB)-supported ASEAN Infrastructure Fund (AIF) has readied $1 billion to begin operations for lending projects by the second half of 2013, a release by the ADB confirmed.

Reading Time: 1 minute

ASEAN infraThe Asian Development Bank (ADB)-supported ASEAN Infrastructure Fund (AIF) has readied $1 billion to begin operations for lending projects by the second half of 2013, a release by the ADB confirmed.

The first round of funds will roll out over the next three years to support priority projects outlined in the Master Plan on ASEAN Connectivity.

The AIF is the largest joint initiative ever realised by the ASEAN community, and was established with equity investments from each ASEAN nation, except for Myanmar.

ADB is also a shareholder, with the AIF’s equity capital reaching about $485.2 million, a figure that will be augmented with hybrid long-term bonds, an instrument with equity characteristics,” Principal Economist Jin Cyhn of the ADB, a specialist on the fund, told Inside Investor.

The kick-off of the fund was announced at a meeting of the AIF Board of Directors in New Delhi, where members discussed progress of the infrastructure projects outlined, efforts to support PPP projects, and fiscal-policy and risk-management frameworks.

“AIF’s first year was an active one,” said Bambang Brodjonegoro, Head of the Fiscal Policy Agency at Ministry of Finance of Indonesia and Co-Chair of the AIF. “What AIF has accomplished this year was to lay the groundwork for projects to come, and the progress to be made, in the years ahead.”

The areas of progress concerned include the receipt of the first equity investments from each shareholder nation, completion of all legal exemptions and privileges from the Government of Malaysia, and completion of all necessary administrative arrangements for the full operations.

 

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