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India buys 1b in asian bonds

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India supports Asian Bonds with $1 bn contribution
Indo-Asian News Service
New Delhi, September 4

India has supported a Thai initiative for Asian Bonds to finance investments in South and Southeast Asia with a contribution of $1 billion.

Announcing this in his inaugural address to a three-day India-ASEAN Business Summit in Delhi on Thursday, Prime Minister Atal Bihar Vajpayee said: "We should invest more among ourselves, without compromising on international standards, safety and efficiency.

"The Asian Bonds initiative of the prime minister of Thailand is therefore a timely initiative," he said.

"If widely supported and wisely operated, this scheme can provide long-term security and stability to our financial instruments, ensure better returns on our investments and fuel faster economic growth."

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