BEIJING (Reuters) - China's promised $10 billion in development funds for Southeast Asia is going to be closer to $1 billion for the time being, diplomats said on Wednesday ahead of a regional meeting later this week in Thailand.

In April, Chinese Premier Wen Jiabao announced China planned to set up a $10 billion China-ASEAN Fund on Investment Cooperation to support infrastructure development in the region.

Details were vague at the time, and little has been heard of the scheme until now.

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Posted by claire at October 21, 2009 11:58 AM