Credit Guarantee and Investment Facility (CGIF) was established by the ten members of the Association of Southeast Asian Nations (ASEAN) together with the People's Republic of China, Japan, Republic of Korea (ASEAN+3) and Asian Development Bank (ADB). CGIF is a key component of the Asian Bond Markets Initiative (ABMI) of the ASEAN+3 cooperation. It has been established to promote economic development, stability and resilience of financial markets in the region. The main function of CGIF is to provide credit guarantees for local currency denominated bonds issued by investment grade companies in ASEAN+3 countries.