The finance ministers of the Association of Southeast Asian Nations plus China, Japan and the Republic of Korea (ASEAN+3) will discuss follow-up actions on the Chiang Mai Initiative during the 42nd Asian Development Bank (ADB) governors meeting in Bali on May 2-5, the Jakarta Post website reported.

"There will be a meeting of the ASEAN+3 finance ministers to finalize the Chiang Mai Initiative talks," said Indonesian Finance Minister Sri Mulyani here on Wednesday after reporting the ADB meeting's preparations to President Susilo Bambang Yudhoyono.

The meeting will discuss efforts to increase the collected funds to US$120 billion, to distribute the funds among ASEAN+3 member countries, and a mechanism in using the funds, she said.

"The ASEAN+3 is expected to agree on a finalization of the Chiang Mai Initiative, namely the usage of the 120 billion dollars funds among the ASEAN+3 member countries. Indonesia could access a stand-by loan amounting to US$14 billion," she said.

"We will also hold an ASEAN Show Case and Road Show where Finance Ministers will meet investors," Sri Mulyani added.

The ADB Annual Meeting 2009 will take stock of progress made under Asian Development Bank's Strategy 2020, its Long Term Strategic Framework for 2008-2020, which was formally adopted last year.

(Xinhua News Agency April 23, 2009)