Vietnam pledges $10 mil for ASEAN infrastructure fund

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Vietnam will contribute US$10 million to the newly-established ASEAN Infrastructure Fund, the Ministry of Finance said Monday.

The ministry made the announcement on the sidelines of the Asia Pacific Economic Cooperation (APEC) finance ministers' annual meeting in Japan.

Founded in May this year, the fund so far has received contribution commitments from the Asian Development Bank ($300 million) and countries like Malaysia ($300 million).

A group of experts are working together to set up the fund's policies and management mechanisms, criteria for choosing projects to grant loans and aspects of the fund's functions.

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