THE hard lessons from the aftermath of the Asian Financial Crisis in the late 1990s has undoubtedly shaped today’s financial world, which led to the development of the Asian Bond Markets Initiative’s Credit Guarantee and Investment Facility (CGIF).

The runaway infrastructure deficit in many emerging economies can be attributed to two simple causes: 1) an increasing need for infrastructure; and 2) the inadequate financing solutions available. And between these, clearly finding adequate financing solutions is more realistic than curtailing the demand for infrastructure.

The Asean+3 governments and regulators are maintaining their drive to create standardized bond and note issuance practices. Although there has been a hiatus since then the impetus towards uniformity is as strong as ever.

Stakeholders in Asean+3 multilateral financial institution Credit Guarantee and Investment Facility (CGIF) are set to boost its capital in a significant vote of confidence for CGIF.

A recent $150 million refurbishment of two decades-old geothermal power plants on the Philippine island of Luzon may sound like just another project aimed at overcoming the country’s severe electricity shortages. But, for Asia’s insurance companies, there is more to it.