综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

World Business

ADB approves regional credit guarantee fund

(Xinhua)
Updated: 2010-04-14 14:43
Large Medium Small

MANILA: The Asian Development Bank (ADB) has approved the establishment of a regional credit guarantee and investment trust fund in Asia to boost long-term investment in the region, ADB announced here Wednesday.

The trust fund, called Credit Guarantee and Investment Facility (CGIF), includes a contribution of $130 million from the ADB, and the combined contribution of $570 million from the ASEAN nations as well as China, Japan and the Republic of Korea (ASEAN+3).

Related readings:
ADB approves regional credit guarantee fund ADB hikes China GDP forecast
ADB approves regional credit guarantee fund ADB raises 2010 China GDP growth forecast to 9.6%
ADB approves regional credit guarantee fund Economic rebalance biggest challenge for China: ADB president
ADB approves regional credit guarantee fund ADB loans $135M for China's green power plant 

"The Credit Guarantee and Investment Facility will make it possible for corporations to issue bonds in their domestic markets and in neighboring markets and across ASEAN+3," said Noy Siackhachanh, advisor with ADB's Office of Regional Economic Integration, adding "Channeling regional savings into regional investments will support economic growth, creating jobs and alleviating poverty."

The pilot CGIF, due to start operations in 2011, will provide guarantees on local currency denominated bonds issued by companies in the region. Such guarantees will make it easier for firms to issue local bonds with longer maturities. This will help reduce the currency and maturity mismatches which caused the 1997-1998 Asian financial crisis and make the regional financial system more resilient to volatile global capital flows and external shocks, he said.

The local currency bond markets of emerging East Asia have expanded dramatically in recent years to stand at $4.4 trillion at the end of 2009. However, they still only account for around 7 percent of outstanding bonds globally. Moreover, corporate bonds account for only 30 percent of outstanding local currency bonds in the region.

Since the 1997-1998 crisis, governments in the region have been working to expand domestic bond markets, with ASEAN+3 countries launching the Asian Bond Markets Initiative in 2002, and a number of central banks establishing the Asian Bond Fund in 2003 to support market development. CGIF marks a continuation of efforts to promote regional markets in an increasingly interdependent region.

The CGIF will be governed by an eight-member board drawn from contributor countries including one representative from ADB. The location of the trust fund has yet to be decided. Once its $700 million capital has been used up, the board will review CGIF's role, organizational structure and operations to decide whether the capital or 1:1 leverage ratio should be increased.

武邑县| 无为县| 抚州市| 博客| 五大连池市| 磴口县| 华池县| 陵川县| 红桥区| 霞浦县| 商丘市| 柳江县| 凤台县| 西丰县| 泸州市| 巴塘县| 赤城县| 建水县| 三台县| 商丘市| 泗洪县| 张家港市| 长乐市| 苗栗市| 临西县| 望城县| 昭平县| 元谋县| 望都县| 广州市| 江油市| 灵武市| 鸡泽县| 虎林市| 通海县| 青冈县| 高密市| 德兴市| 新宁县| 治县。| 平定县|