The enhanced Chiang Mai Initiative Multilateralisation (CMIM), which is a regional financial arrangement among the Finance Ministers and Central Bank Governors of the ASEAN Members States, China, Japan and Korea (ASEAN+3) and the Monetary Authority of Hong Kong, China came into effect on 17 July 2014.

Key enhancements to the CMIM are as follows:

1. USD240 billion in total size, which is twice the original amount of USD120 billion (see Attachment 1);
2. Introduction of a crisis prevention facility to provide pre-emptive financial assistance to member countries; and
3. Increase in the portion of financial assistance which can be obtained independently of an IMF Programme (IMF De-linked Portion) from 20% to 30%.

The CMIM was first established in 2010 to provide financial assistance to member countries experiencing balance of payments and short-term liquidity difficulties. The enhanced CMIM demonstrates the continuing commitment of the ASEAN+3 economies towards strengthening the regional safety net.

Please click the following link to view the attachment:

• Contribution, Purchasing Multiple and Maximum Arrangement Amount (after the amendment of the CMIM)

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