Partnering with Singapore to drive ASEAN+3 sustainable bond excellence

Empowering Viet Nam's growth with the confidence of CGIF guarantees

Indonesia's sustainable development and capital mobilization, powered by CGIF guarantees

Empowering sustainable finance in Thailand through CGIF-guaranteed bonds

Driving sustainable growth in Malaysia's sukuk market with CGIF's guarantee

Mobilizing capital for social and infrastructure development with CGIF guarantees

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WHO WE ARE

CGIF aims to promote the development of local currency bond markets across ASEAN+3. By providing irrevocable and unconditional guarantees, CGIF helps issuers access long-term financing in their own currencies while offering investors greater confidence and stability. Through these efforts, CGIF strengthens regional financial integration and supports sustainable economic growth in the region.

GUARANTEED BOND ISSUANCE

Press Releases: Latest CGIF-Guaranteed Bond Issuances

CGIF Reinforces Support for Tecomen’s Growth with Second Tranche Issuance

CGIF Reinforces Support for Tecomen’s Growth with Second Tranche Issuance

Manila, 24 December 2025 – Credit Guarantee and Investment Facility, a trust fund of the Asian Development Bank (“CGIF”) has guaranteed Tecomen Holding Joint Stock Company’s (“Tecomen” or “Issuer”) five-year VND300 billion (c. USD11 million) fixed-rate amortizing bond (“Second Tranche”).
CGIF backs three Philippine Peso Social Corporate Notes issued by Asialink Finance Corporation, Global Dominion Financing, Inc., and South Asialink Finance Corporation

CGIF backs three Philippine Peso Social Corporate Notes issued by Asialink Finance Corporation, Global Dominion Financing, Inc., and South Asialink Finance Corporation

Manila, 23 December 2025 – Credit Guarantee and Investment Facility, a trust fund of the Asian Development Bank (“CGIF”) has guaranteed Philippine Peso Social corporate notes for three issuers—two being first-time issuers—from the Asialink Group, namely 1) Asialink Finance Corporation’s (“Asialink”) five-year PHP2.0 billion fixed-rate amortizing Social Corporate Notes, 2) Global Dominion Financing, Inc.’s (“GDFI”) three-year PHP1.0 billion fixed-rate amortizing Social Corporate Notes, and 3) South Asialink Finance Corporation’s (“SAFC”) three-year PHP1.0 billion fixed-rate amortizing Social Corporate Notes (aggregate of PHP4.0 billion). The Social Corporate Notes were issued under the ASEAN Social Bond Standards by the ASEAN Capital Markets Forum (“ACMF”), and the Social Bond Principles by the International Capital Markets Association (“ICMA”).
CGIF Guarantees Pollux Hotels Group’s Debut IDR Sustainability-Linked Bond, Driving Growth in Indonesia’s Sustainable Finance Initiative

CGIF Guarantees Pollux Hotels Group’s Debut IDR Sustainability-Linked Bond, Driving Growth in Indonesia’s Sustainable Finance Initiative

Manila, 11 December 2025 – The Credit Guarantee and Investment Facility, a trust fund of the Asian Development Bank (“CGIF”) is pleased to announce its support for the Sustainability-Linked Bonds (“SLB”) of PT Pollux Hotels Group Tbk (“PHG”) totaling IDR 500 billion (~USD 30.3 million). Listed on the Indonesia Stock Exchange today, the SLB was successfully issued on 10 December 2025 in two tranches: (a) 3-year tenor of IDR 55 billion (~USD 3.3 million) at 5.85% p.a. and (b) 5-year tenor of IDR 445 billion (~USD 27.0 million) at 6.25% p.a.
Market Education

Market Education

CGIF believes that an integral part of strengthening and developing local bond markets involves educating market participants, including but not limited to potential issuers, potential investors as well as financial arrangers. Visit this page for CGIF’s updates and research on the local bond markets, including discussions on CGIF supported issuances.
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2024 ANNUAL REPORT

Future Proof

Since 2010, Credit Guarantee and Investment Facility, a trust fund of the Asian Development Bank (CGIF), has been steadfast in fulfilling its mandate to advance developmental change in the ASEAN+3. Through the years, CGIF has worked diligently to achieve “quality growth” in both areas of business expansion and risk management, significantly expanding its presence in local bond markets while growing its business and maintaining prudent risk management practices.

FEATURED RESEARCH

Insights driving regional financial development

Japan Corporate Bond Market Research 2025

Japan Corporate Bond Market Research 2025

Japan’s corporate bond market strategy is to balance its strong international positioning with domestic potential. Over the past few years, the market continues to demonstrate significant growth opportunities, supported by recent financial initiatives. These efforts are expected to spur stronger growth in the yen-denominated corporate bond market. A key focus is the active integration of Japan’s substantial domestic savings into the corporate bond market as part of broadening the investor base.
Korea Corporate Bond Market Research 2025

Korea Corporate Bond Market Research 2025

One of the largest economic and financial markets in ASEAN+3, Korea now has a strong corporate bond market. Some of the critical factors contributing to its strength are the set of effective policy changes and robust participation of the domestic players. Korea’s corporate bond market is largely domestic, led by the investments of the financial sector. In the same way, financial sector companies dominate the issuance of corporate bonds in the country. Moving forward, Korea aims to build and strengthen its sustainable bond market.
ASEAN+3 Corporate Bond Market Research 2024

ASEAN+3 Corporate Bond Market Research 2024

This research report shows the unique characteristics of the ASEAN+3 corporate bond market, particularly on the trends in corporate bond issuances and investor groups. This shows the overall developmental stages of each corporate bond market in the region, as well as several updates on the changes in the relevant regulations for corporate bonds. In addition, this research touches on the thematic bonds in ASEAN+3.