ADB and ASEAN +3 Forms Insurance Agency Loan of U.S. $ 700 Million
'; } ?> Manila – The Asian Development Bank (ADB) and ASEAN countries plus China, Japan and South Korea, known as ASEAN +3 agreed to establish a credit guarantee facility worth U.S. $ 700 Million.Establishment of credit guarantee facility was intended to support financial stability and encourage the improvement of long-term investment in the ASEAN region.
Of the total credit guarantee facility, the ADB will support the U.S. $ 130 million, while U.S. $ 570 million supported the ASEAN +3 countries. Of the total of which supported the ASEAN +3, the details are China contributes U.S. $ 200 million, Japan U.S. $ 200 million, U.S. $ 100 Million South Korea and ASEAN U.S. $ 70 million.
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