The ASEAN+3 Finance Ministers and Central Bank Governors’ Meeting (May 3, 2026)

On May 3, 2026, the ASEAN+3 Finance Ministers and Central Bank Governors’ Meeting was held in Samarkand, Uzbekistan. KATAYAMA Satsuki, Japan’s Minister of Finance attended the meeting as a co-chair with the Philippines.

At the meeting, Chiang Mai Initiative Multilateralisation (CMIM), the ASEAN+3 Macroeconomic Research Office (AMRO), Disaster Risk Financing (DRF), Cross-Border Digital Payments, and other issues were discussed. The outcomes of the discussions are summarized in “Joint Statement”(PDF:224KB).

The summary of discussion is as follows.

(Chiang Mai Initiative Multilateralisation - CMIM)

• Welcome AMRO’s policy paper aimed at enhancing the effectiveness of the CMIM so that it can appropriately fulfill its role during crises as an essential component of the　Global Financial Safety Net, as well as strengthening AMRO’s capacity to support CMIM implementation.
• Agree on the roadmap outlining the future discussion agenda and process toward transitioning the CMIM to a paid‑in capital (PIC) structure, with a view to enhancing its effectiveness as a regional financial safety net.

(ASEAN+3 Macroeconomic Research Office - AMRO)

• Welcome the 10th anniversary of AMRO’s establishment as an international organization, and expressed expectations for further strengthening AMRO’s functions in surveillance, support for CMIM implementation, and technical assistance, as well as for enhanced cooperation with other institutions, including the IMF.

(Asian Bond Markets Initiatives - ABMI)

• Agree on the evolution from ABMI to Asian Bond and Financial Markets Initiative (ABFMI) under the next roadmap, reflecting the mitigation of the double mismatch, with a view to exploring broader sets of financial instruments to further promote region financial cooperation, while still keeping bonds at the core of the initiative.

(Disaster Risk Financing Initiative - DRFI)

• Agree on the three‑year roadmap (2026–2028) to support the development of national DRF strategies of each country and to promote the use of a broad range of DRF instruments, including disaster insurance and catastrophe bonds.
• Welcome the transfer of the DRFI Secretariat to the Asian Development Bank (ADB) as a permanent secretariat to strengthen the implementation framework.

(Cross-Border Digital Payments)

• Welcome AMRO’s report, which analyzes the advantages and disadvantages of various tools, and identifies challenges to practical implementation, thereby supporting efforts to strengthen cross‑border digital payments in the region, a newly identified area of cooperation under the “Strategic Directions” of the ASEAN+3 Finance Process.

In the margin of the ASEAN+3 Finance Ministers and Central Bank Governors’ Meeting, the Trilateral (China, Japan and Korea) Finance Ministers and Central Bank Governors’ Meeting was also held. The outcomes of the discussions are summarized in “Joint Message(PDF:132KB)”, and released.