The most notable recent achievement is the establishment in November 2010 of a trust fund in the ADB called the Credit Guarantee and Investment Facility (CGIF). The CGIF plans to start its credit guarantee operations for local currency-denominated corporate bonds issued in the ASEAN+3 jurisdictions in the third quarter of 2012 at the earliest.
At the Finance Ministers’ and Central Bank Governors’ Meeting in May this year, another new roadmap for the ABMI was proposed and endorsed to further promote resilient capital markets in the region, for example, by improving the regional credit rating system, developing small and medium-sized enterprises’ finance and securitization markets, and raising the level of financial education.