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Regional Initiatives

Chiang Mai Initiative

The Chiang Mai Initiative strengthens financial cooperation and provides liquidity support for ASEAN+3 economies during times of need.

The Chiang Mai Initiative (CMI), launched on 6 May 2000 by the ASEAN+3 Finance Ministers to provide short-term financial assistance to Member Countries in need of temporary liquidity support, has two components, as follows:

  • an ASEAN Swap Arrangement (ASA); and
  • a network of bilateral swap arrangements (BSAs) and repurchase agreements among the ASEAN+3 Member Countries.

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