Jakarta—The Indonesian Finance Ministry said on Monday, 14 April, that an action plan signed by finance ministers and central bank governors of Southeast Asian nations maps out strategic and practical guidelines to spur sustainable infrastructure projects throughout the region.
The plan, launched the ASEAN Infrastructure Fund (AIF) Action Plan 2025-2028 on Thursday, 10 April, includes plans to increase AIF financing capacity and a commitment to support joint green project financing in ASEAN, such as the ASEAN Power Grid, to achieve ASEAN climate change targets. The action plan was launched at the 12th ASEAN Finance Minister and Central Bank Governors Meeting (AFMGM) in Kuala Lumpur, Malaysia.
The ASEAN Infrastructure Fund (AIF) is a regional financing initiative designed to help bridge infrastructure gaps within ASEAN member states. The fund is a collaborative effort, with the Asian Development Bank (ADB) playing a key role in its administration and loan management. The AIF aims to catalyse public and private investment in sustainable and resilient infrastructure projects across the region, contributing to ASEAN’s growth and development.
With strong support from all ASEAN member countries and its funding partners, AIF looks forward to a new phase with a broader scale and impact in supporting ASEAN’s efforts to finance greener and more resilient infrastructure in the region. To date, AIF has supported 15 projects in 6 ASEAN countries.
Minister of Finance Sri Mulyani Indrawati, in a special forum, discussed various collaborations in the financial sector. On this occasion, the Minister of Finance reported on developing two forums initiated during Indonesia’s Chairmanship in 2023, namely the establishment of the ASEAN Treasury Forum (ATF) and the revitalization of cross-sector collaboration forums. Cross-sector collaboration is underway for disaster risk financing and collaboration in the health and financial sectors.
The forum was attended by ASEAN countries and representatives of international institutions such as the International Monetary Fund (IMF), Asian Development Bank (ADB), and World Bank.
In a series of activities, the Minister of Finance and Deputy Minister of Finance also held several bilateral meetings with partner countries such as Singapore, Malaysia, Thailand, and the United States, as well as representatives of the ADB. This meeting was used to exchange views on economic conditions, opportunities for cooperation, and the direction of future trade and investment policies. (Roffie Kurniawan)
Banner photo: Image generated by OpenAI’s DALL·E via ChatGPT (2024)
