Promoting Green Local Currency Bonds for Infrastructure Development in ASEAN+3

ASEAN 3 policy makers are exploring options to promote green local currency-denominated bonds to meet the region's infrastructure development needs. The Asian Development Bank and the Association of Southeast Asian Nations and the People's Republic of China, Japan, and the Republic of Korea (ASEAN 3) are looking to explore options to promote green local currency-denominated bonds to meet the region's infrastructure development needs. Green bondssupported within the ASEAN 3 frameworkwould help meet the long-term financing of the region especially in its transition to a low-carbon region. This publication highlights an assessment study of green bond markets in ASEAN 3, identifies the barriers to green bond market development, and proposes recommendations to scale up green bond markets for infrastructure development in ASEAN 3.