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About AIF

Jump to: Overview AIF Action Plan Key Milestones Governance Partners

Overview

The ASEAN Infrastructure Fund (AIF) is Southeast Asia’s largest regionally owned infrastructure financing platform. Established by ASEAN member states and the Asian Development Bank (ADB) to help close the region’s infrastructure investment gap, AIF mobilizes ASEAN’s own resources to deliver high-priority projects that drive economic integration and sustainable development.

Since 2012, AIF has committed over $520 million to infrastructure investments across the region—catalyzing more than $9 billion in total project financing with contributions from governments, ADB, and development partners. AIF takes a forward-looking approach to regional development—integrating innovative finance and strong governance to help countries deliver infrastructure that meets urgent development priorities.

To sustain growth and prosperity, the ASEAN region must scale up investments in accessible, affordable, and climate-resilient infrastructure. The region needs an estimated $210 billion annually through 2030—but faces a funding gap exceeding $100 billion each year. AIF is scaling up to close this gap through new partnerships, expanded facilities, and unlocking public and private investment.
AIF finances critical infrastructure such as roads, power, water, and sanitation that improves lives and builds resilience. With ADB as its administrator, AIF offers:

  • Access to AIF's own capital
  • Project development support and technical assistance
  • Access to concessional financing from partners
AIF's vision is to be a self-sustaining and innovative green infrastructure fund that supports ASEAN member states deliver infrastructure that aligns with their development goals. AIF prioritizes projects that:

  • Advance resilient and sustainable growth
  • Support inclusive access to services
  • Strengthen regional connectivity and integration
Driving sustainable and resilient growth across the region

AIF Action Plan 2025–2028

The Fund's new Action Plan sets out a strategic and actionable pathway to advance sustainable infrastructure projects in ASEAN member states. Endorsed at the 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting in 2025, it aims to scale up investments, enhance the Fund’s financial capacity, expand cofinancing partnerships, and launch new financing facilities tailored to ASEAN priorities.

Timeline

Key Milestones

Timeline

Key Milestones

Governance

Owned by ASEAN member states and the ADB, which also serves as its administrator, AIF funds projects in the region using resources mobilized from cofinanciers, development partners, and ADB.

Shareholders

AIF Board of Directors

The AIF Board is composed of senior officials from the finance ministries of ASEAN member states and officials from ADB. The board meets at least twice a year.

Ms. Sharifah Amalina Murad

AIF Director / Director, International Affairs Division, Ministry of Finance and Economy

Mr. Haji Md. Irwan Bin DP Haji Rashid

AIF Alternate Director / Assistant Director, International Affairs Division, Ministry of Finance and Economy

H.E. Pen Thirong

AIF Director / Secretary of State, Ministry of Economy and Finance

Mr. Non Wattanak

AIF Alternate Director / Director, Department of Project Portfolio Management, General Department of International Cooperation and Debt Management, Ministry of Economy and Finance

Ms. Yogi Rahmayanti

AIF Director / Director, Center for Regional and Bilateral Policy, Fiscal Policy Agency, Ministry of Finance

Ms. Dina Irvina

AIF Alternate Director / Head of Section for Government Support II, Directorate of Government Support and Infrastructure Management, Directorate General of Budget Financing and Risk Management, Ministry of Finance

Ms. Phengkhiem Xayakeo

AIF Director / Deputy Director General, External Finance Department, Ministry of Finance

Mr. Chanpasith Sengphaathith

AIF Alternate Director / Director of ASEAN Cooperation Division, External Finance Department, Ministry of Finance

YBhg. Dato' Zamzuri Bin Abdul Aziz

AIF Director / Deputy Secretary General of the Treasury (Policy), Ministry of Finance

Ms. Ramona Binti Mohd Razali

AIF Alternate Director / Undersecretary, International Division, Ministry of Finance

Mr. Maung Maung Win

AIF Director / Deputy Minister, Ministry of Planning and Finance

Mr. Zaw Naing

AIF Alternate Director / Director General, Financial Regulatory Department, Ministry of Planning and Finance

Mr. Joven Balbosa

Incoming AIF Director / Undersecretary, International Finance Group, Department of Finance

Ms. Donalyn Minimo

Incoming AIF Alternate Director / OIC Assistant Secretary, Department of Finance

Ms. Xu Wen Min Esther

AIF Director / Director of Tax and Financing Ecosystem Division, Financing Ecosystem Enterprise Singapore

Mr. Chng Thien Alvin Lim

AIF Alternate Director / Director General, Ministry of Finance

Mr. Tibordee Wattanakul

AIF Director / Director General, State Enterprise Policy Office, Ministry of Finance

Mr. Pitaya Uthaisang

AIF Alternate Director / Director of Policy and Planning Bureau, State Enterprise Policy Office, Ministry of Finance

Ms. Xuan Thao Nguyen

AIF Director / Deputy Director General, Department of Debt Management and External Finance, Ministry of Finance

Ms. Lan Anh Nguyen

AIF Alternate Director / Deputy Director of Multilateral Division, Department of Debt Management and External Finance, Ministry of Finance

Mr. Pavit Ramachandran

AIF Director / Deputy Director General, Southeast Asia Department, Asian Development Bank

Partners

With ADB as its administrator, AIF fosters partnerships with intergovernmental organizations such as the EU, development agencies like the UK’s FCDO, global funds such as the GCF, think tanks, NGOs, and other stakeholders. These partnerships support cofinancing, technical assistance, knowledge sharing, and collaboration on initiatives such as the ASEAN Catalytic Green Finance Facility (ACGF).

Financing Partners

Knowledge Partners