ADB lauds bond issue under Asean+3 initiative

Tokyo

THE Asian Development Bank said on Monday that a Thai baht bond issued by Japan's Mizuho Bank - the first such under the Asean+3 Multi-Currency Bond Issuance Framework - will expand funding sources and help reduce financial market risks in Asia.

Welcoming the move, the ADB noted that "easier local-currency financing made possible through the framework reduces the foreign exchange risks that led to the 1997-1998 Asian financial crisis".