Association of Southeast Asian Nations finance ministers and central bank governors deepen engagement with business councils on infrastructure finance and financial inclusion

The Association of Southeast Asian Nations (ASEAN) highlighted expanded collaboration with the private sector under the Philippines’ ASEAN chairmanship, centred on the ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM) sessions with ASEAN business councils. The engagements focused on mobilising long-term capital to support jobs, infrastructure and connectivity, and widening access to financial services across the region. Co-chaired by Philippines Finance Secretary Frederick D. Go and Bangko Sentral ng Pilipinas Governor Eli Romolona Jr., the discussions with the United States-ASEAN Business Council, the European Union-ASEAN Business Council and the ASEAN Business Advisory Council covered the use of public-private partnerships, blended finance and risk-sharing mechanisms for critical infrastructure and high-impact sectors, as well as the role of technology and artificial intelligence in improving efficiency and financial services. Topics also included stronger EU-ASEAN cooperation on digital and sustainable finance, scaling inclusive financing for micro, small and medium enterprises and agri-food value chains, and strengthening regional payment connectivity to support cross-border trade and investment and reach underserved communities. ASEAN finance ministers and central bank governors, together with the Philippine co-chairs, positioned the dialogues as a basis for follow-on work intended to translate the commitments and insights into concrete actions, investments and longer-term partnerships.