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Thailand spearheads Southeast Asian fund to reduce reliance on Asian giants

Thailand would contribute a "substantial amount of money" to start the fund


Thailand is spearheading a new Southeast Asian fund for infrastructure and development projects, Thai Prime Minister Prayuth Chan-ocha told a summit in Bangkok on Saturday, a bid to counter reliance on Asian giants, such as China. The fund, which Thailand will jointly manage with four countries of the region - Cambodia, Laos, Myanmar and Vietnam - is expected to begin operations in 2019. “Thailand wants to emphasize the importance of a sustainable source of funding,” Prayuth told a summit of the Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy ...

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First Published: Sat, June 16 2018. 21:15 IST