E. Asia raising more funds

E. Asia raising more funds

MANILA (Kyodo): Funds raised last year in international financial markets by 12 fast-growing East Asian countries and territories totaled US$45.85 billion, up from $13.90 billion in 1985, according to a report released by the Asian Development Bank (ADB).

The countries and territories, including South Korea, Hong Kong, Thailand and Malaysia, are among the 35 ADB members.

Funds raised by Indonesia totaled $6.19 billion, up 76-fold from $81 million in 1985, while Hong Kong raised $6.10 billion, up 27-fold, Thailand $7.99 billion, up six-fold, and South Korea $7.90 billion, up nearly twofold.

Funds were raised through medium- and long-term bank loans and bond issues, the report said.