Newest ASEAN fund may be out of reach for Cambodian govt
The ASEAN Infrastructure Fund, the largest pooling of financial resources among Southeast Asia’s 10-member bloc, held its first board meeting in Manila last week, but the extent to which Cambodia will borrow from the non-concessional fund has yet to be determined, experts said. ASEAN countries and the Asian Development Bank have provided initial equity of US$485 million for the AIF that will finance regional road, power and water projects, according to a statement from the ADB. … But the fund will lend at rates higher than the concessional loans Cambodian law allows the country to take. …
