JAKARTA: Ten Asean member countries are committed to start the operation of infrastructure as of 2012 to facilitate regional integration by 2015.10 Asean member countries and Asian Development Bank (ADB) will jointly manage US$480 million funds raised to support infrastructure financing.The preparation for the creation of Asean Infrastructure Fund was discussed at the Asean Summit held in Jakarta on May 7-8, 2010, Finance Minister Agus D. W Martowardojo said.Asean Infrastructure Fund is expected to be finalized by the end of 2011 so that it can operate by 2012, he said, yesterday.Asean Infrastructure Fund is aimed to help create Asean regional connectivity through infrastructure financing support. It will be harmonized with domestic connectivity supported by PT Sarana Multi Infrastruktur.Earlier, Acting Head of Fiscal Policy Bambang Permadi Sumantri Brodjonegoro said Asean Infrastructure Fund is planned to be established in September this year.10 Asean member countries and Asian Development Bank (ADB) agreed to raise US$480 million fund."For the managed fund [infrastructure fund] of US$450 million-US$480 million, Indonesia will be the second-largest contributor with US$120 million while Malaysia is the largest contributor with US$150 million. This is the initial capital but it can rise. ADB is also providing funding, ranked as the third largest, if Im not mistaken," he said.According to him, Indonesia supports the establishment of infrastructure fund in order to get a loan to finance the infrastructure projects with a value greater than the deposited funds.However, he didnt explain the leverage ratio for Indonesia. (T06/NOM)
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