MANILA, PHILIPPINES (29 March 2012) – Asian Development Bank (ADB) President Haruhiko Kuroda will travel to Phnom Penh, Cambodia, to address the 16th gathering of the Association of Southeast Asian Nations (ASEAN) Finance Ministers Meeting on 30 March.
Mr. Kuroda will brief the ministers on current ASEAN and global economic issues. The ministers are expected to discuss a variety of initiatives in the region.
During his visit, Mr. Kuroda will also meet with the Prime Minister of Cambodia, Hun Sen, as well as finance ministers from the region.
ASEAN brings together Brunei Darussalam, Cambodia, Lao People’s Democratic Republic, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Viet Nam. ADB’s support for the forum is wide ranging and includes assistance for the establishment of the Asian Bond Market Initiative; a credit guarantee and investment facility; and many other measures designed to bolster economies and promote financial stability in the region.
ADB is also supporting the establishment of the ASEAN Infrastructure Fund (AIF) as a shareholder, cofinancier and administrator. The meeting will review progress towards the AIF as a way of promoting connectivity to accelerate accomplishment of the ASEAN Economic Community.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members – 48 from the region.