Denpasar – Finance ministers of the ASEAN+3 (Chine, Japan and South Korea) will discuss follow-up actions on the Chiang Mai Initiative during the 42nd Asian Development Bank (ADB) governors meeting in Bali this upcoming May 2-5, 2009.
“There will be a meeting of the ASEAN+3 finance ministers to finalize the Chiang Mai Initiative talks,” Finance Ministrer Sri Mulyani said Wednesday after reporting the ABD meeting’s preparations to President Susilo Bambang Yudhoyono.
The meeting will discuss efforts to increase the collected funds of US$ 120 billion, and to distrubute the funds among ASEAN+3 member countries, and a mechanism in using the funds, she said.
“The ASEAN+3 is expected to agree on a finalization of the Chiang Mai Initiative, namely the usage of the $ 120 billion funds among the ASEAN+3 member contries. Indonesia could access a stand by loan amounting to US$ 14 billion,” he said.
In Bali, the ASEAN finance ministers will also hold a workshop with investors, the minister said.
“We will also hold an ASEAN Show Case and Road Show where Finance Ministers will meet investors, “ Sri Mulyani said.
ASEAN groups include Indonesia, Cambodia, Singapore, malaysia, Brunei Darussalam, the Philippines, Thailand, Vietnam, Myanmar and Laos.
President Susilo Bambang Yudhoyono is scheduled to officially open the ADB Board of Governors Meeting in Bali, on May 4th, 2009.
“President yudhoyono and the ADB President will also sign the ADB Annual Meeting Stamp First-Day Coverr on the occasion,” she said.
The 42nd Annual Meeting of ADB will be participate by around 3,500 representatives of 67 countries, including ADB members, government leaders, central bank governors, finance ministers, academicians, private businessmen, and NGO activists.
The ADB Annual Meeting 2009 will take stock of progress made under ADB’s Strategy 2020, its Long Term Strategic Framework for 2008-2020, which was formally adopted last year.
News by International Bali Post
Be The First To Comment