India supports Asian Bonds with $1-B contribution

Thursday, 04 September 2003, 19:30 IST
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NEW DELHI: India has supported a Thai initiative for Asian Bonds to finance investments in South and Southeast Asia with a contribution of $1 billion. Announcing this in his inaugural address to a three-day India-ASEAN Business Summit here Thursday, Prime Minister Atal Bihar Vajpayee said: "We should invest more among ourselves, without compromising on international standards, safety and efficiency. "The Asian Bonds initiative of the prime minister of Thailand is therefore a timely initiative," he said. "If widely supported and wisely operated, this scheme can provide long-term security and stability to our financial instruments, ensure better returns on our investments and fuel faster economic growth."
Source: IANS
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