Launched under Malaysia's chairmanship of Asean, the action plan was endorsed at the 12th Asean Finance Ministers and Central Bank Governors Meeting in Kuala Lumpur on Thursday (April 10).
Dubbed as a "living document", the plan will be subjected to the guidance of its Board, consisting of the 10 Asean member states.
The Action Plan's immediate priorities includes expanding the fund's financial capacity by securing new capital to allow greater lending to Asean member states as well as improving the price competitiveness of AIF's loans through policy adjustments and periodic reviews and the AIF's range of financing solutions through new innovative facilities – including those for preparing regional connectivity projects such as the Asean Power Grid and pilot loans in Islamic finance.
It will also further expand the Asean Catalytic Green Finance Facility's (ACGF) in collaboration with other Multilateral Development Banks and Development Finance Institutions and widen access to more public and private capital donors.
Speaking at the launch, Finance Minister II Datuk Seri Amir Hamzah Azizan said for more than 14 years, the AIF has played a critical role in supporting the infrastructure development needs of the region.
"It has been a key instrument in enabling Asean to meet its growing infrastructure demands, contributing to economic growth, regional connectivity, and enhanced social welfare across Asean member states, he said.
He noted that since its inception, the AIF has financed 15 landmark projects in various sectors such as agriculture, natural resources and rural development, transport, energy, water and urban development.
"These projects have not only provided much-needed infrastructure but have also laid the foundation for a more interconnected Asean – creating synergies between countries, enhancing trade flows and improving access to services and resources.
"With the endorsement of its shareholders – all 10 Asean countries and Asian Development Bank (ADB) – the AIF is unveiling its new Action Plan 2025-2028. The action plan commits AIF to an ambitious vision of growth, enhanced value to borrowers, new partnerships, and a higher regional presence," he said.
"The action plan commits AIF to an ambitious vision of growth, enhanced value to borrowers, new partnerships, and a higher regional presence," he said.
Launched in 2011, the AIF is a dedicated fund established by ADB and Asean member nations to address the region's infrastructure development needs.
