The ASEAN Working Committee On Capital Market Development

The ASEAN Working Committee on Capital Market Development (WC-CMD) convened for the first time under Malaysia’s Chairmanship on February 17, 2025, in Penang, Malaysia.

Discussions centered on ASEAN’s Sectoral Plan developments, progress updates on the ASEAN Bond Market Development Scorecard and Risk Monitoring Template, as well as sustainable finance initiatives, including the ASEAN Sustainable Finance Support Hub. The meeting was also apprised on the AEC Strategic Plan 2026-2030, currency de-risking mechanisms, the Asia GX Consortium, and on Project Revive, which sets the framework to enhance future cooperation in the financial sector.

The WC-CMD members later in the afternoon convened with the ASEAN Capital Markets Forum (ACMF), receiving updates from the Sustainable Finance Working Group (SPWG), Infrastructure Finance Working Group (IFWG), Taxonomy and Transition Working Group, Disclosures Working Group and Demand and Supply Working Group. The Asian Development Bank (ADB) also were invited to presented information to the WC-CMD-ACMF on GSS + Bond Initiative focusing on its Impacts on issuance and Capital Mobilization. The presentation highlighted Southeast Asia’s financing needs for biodiversity conservation, climate-responsive infrastructure, and sustainable bonds, addressing significant annual funding gaps in these areas.

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