Notwithstanding postponement of the 14th ASEAN Summit in due to civil unrest in Thailand, Chinese Foreign Minister Yang Jiechi yesterday unveiled a multi-billion-dollar package of aid and credit to enhance cooperation between China and the member countries of the Association of South East Asian Nations (ASEAN). As part of the aid package, China plans to establish a China-ASEAN Investment Cooperation Fund totaling US$10 billion, designed for cooperation on infrastructure construction, energy and resources, information and communications. In addition, over the next three to five years, China plans to offer credit of US$15 billion to ASEAN countries, including US$1.7 billion of loans with preferential terms for cooperation projects. Signaling concern for several small, but key, allies, China will offer 270 million yuan (US$39.7 million) in special aid to Cambodia, Laos and Myanmar to meet urgent needs, and donate US$900,000 to the cooperation fund of ASEAN plus China, Japan and the Republic of Korea. According to Mr. Jiechi, "The overall thought for China-ASEAN cooperation is that the two sides should rise to difficulties in face of the grim global financial crisis, and make efforts to convert unprecedented challenge into opportunity for closer pragmatic cooperation and common development."