The Government of the United States of America (USA) has extended USD150 million in investments to the Association of Southeast Asian Nations (ASEAN) to develop the region’s maritime and infrastructure sector.

Out of the total, the government has earmarked USD60 million to expand maritime cooperation between the countries and USD40 million to finance clean energy infrastructure projects as well as reduce the carbon footprint of the region’s power supply. Additionally, USD6 million worth of investments has been earmarked to advance digital economy and support the adoption of global standards in artificial intelligence (AI) in the ASEAN region.

The USA is ASEAN’s largest source of foreign direct investments.