Malaysia's Ministry of Finance announced that the first ASEAN+3 Task Force Meeting, co-chaired with the People’s Republic of China, agreed Malaysia’s proposed Priority Economic Deliverables (PEDs) for ASEAN 2025 and a set of ASEAN+3 PEDs. For ASEAN, the PEDs focus on improving access to financing for a sustainable and just climate transition, accelerating growth of more sustainable, connected and inclusive ASEAN capital markets, and promoting continuity of inclusive instant payments. The ASEAN+3 PEDs include full ASEAN+3 membership in the Southeast Asia Disaster Risk Insurance Facility (SEADRIF), expanded membership of the ASEAN+3 Finance Think-tank Network (AFTN), strengthening the credibility of the Chiang Mai Initiative Multilateralisation (CMIM) by transitioning from pledges to paid-in capital, and improving access to CMIM. The meeting also agreed to take forward a Disaster Risk Financing Initiative (DRFI), including a DRFI Roadmap for 2026–2028, a proposal for a new ASEAN+3 finance ministers platform focused on fiscal policy, and development of a Policy Adjustment Instrument (PAI) to help member countries improve the stability of their national financial positions. The agreed items will be refined at the second ASEAN+3 Task Force Meeting on 5–6 March 2025 in Xiamen, China, ahead of submission for agreement at the ASEAN+3 Finance Ministers and Central Bank Governors Meeting scheduled for May 2025.

Original source