ASEAN plus Japan , the Republic of Korea (RoK) and China as wellas the Asian Development Bank (ADB) are preparing mutual funds to securea private bond market.
The fund is calledthe Credit Guarantee and Investment Facility (CGIF) valued at 700million USD, said Acting Head of the Fiscal Policy Agency at Indonesia's Finance Ministry Bambang Brodjonegoro, while presenting results ofthe 15th ASEAN Finance Ministers' Meeting (AFMM) in the Indonesianprovince of Bali on April 7-8.
TheAssociation of Southeast Asian Nations (ASEAN) plus Japan, Chinaand the RoK are aware of the importance to guard stability of financialmarkets, thus the ASEAN+3 and the ADB agreed to form the CGIF to curbemerging volatilities that could depress the bond price, he said.
He said that the CGIF is also part of the Roadmap for Monetary and Financial Integration of the ASEAN, he added./.