17 Nov '11, 5am

S'pore extends S$50m contribution to ASEAN to narrow development gap

BALI: Singapore announced an extension of its contributions to the Initiative for ASEAN Integration (IAI) for another four years from 2012 to 2015. Revealing this during the plenary session of the ASEAN Summit in Bali, Prime Minister Lee Hsien Loong said this will be the country's fourth pledge to the IAI, totalling S$50 million. The IAI aims to help member states like Cambodia, Laos, Myanmar and Vietnam narrow the development gap to achieve the vision of an ASEAN Community by 2015. Giving an overview, Mr Lee noted that the global economy remained vulnerable with problems in the European Union and the US economy still weak with low growth and stubborn unemployment. He said ASEAN must cooperate to weather the storm. He said this can be done in three ways - achieving the vision of an ASEAN Community by 2015, enhancing ASEAN connectivity and strengthening links with the rest ...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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