of infrastructure development is estimated to be usd35 trillion over the next 20 years. for the asian region alone, a study done by the asian development bank ( adb ) reveals that the region needs usd750 billion per year over the year 2010 – 2020 to meet the rising needs of infrastructure development. out of this, the needs for the asean region have been estimated to be over usd60 billion per year. considering the vast opportunities of infrastructure projects regionally and globally, malaysian contractors should seize the opportunity for further expansion of their business. i am pleased to note that many malaysian companies have already established their presence in the global construction industry with commendable achievements. the number of overseas projects awarded to malaysian contractors has increased by 43 % to 40 in 2008 valued at rm8. 5 billion, from just 28 projects valued at rm2. 9 billion in 2004. in 2008, the middle east region being the major end - users of the projects undertaken by malaysian contractors, accounted for nearly rm6 billion or 68 % of the total value of the projects comprising various sectors including energy and transportation. indeed, the achievement signifies that our local contractors do have competitive advantage to reap the vast opportunities in the global market. in complementing the efforts of local contractors to strengthen their international presence, relevant authorities and institutions should be continued to enhance and improve the enabling environment. in this regard, i am pleased to note that the cidb has effectively played a key role in promoting the capabilities and strength of malaysian contractors to the relevant parties in the global market. apart from having well established companies with excellent track record to undertake infrastructure projects, the other critical component in ensuring the success of infrastructure development is the availability and accessibility to financing. bank negara malaysia has always accorded and will continue to accord high priority to ensure that financing continues to be available to support the needs of the economy. i am pleased to note the vital role played by the exim bank in providing the financing facilities for the construction sector to undertake projects abroad. in today ’ s seminar, we have the opportunity to hear from the exim bank on the various available financing facilities to contractors with overseas projects. similarly, we will also be enlightened on the role of the icd in promoting economic development among oic member countries, particularly on private sector project, by providing financial as well as advisory services for a range of client requirements. malaysia ’ s islamic financial industry, as we are all aware, distinguishes itself a proven platform for conducting islamic finance activities.

. these require competent and professional boards to be installed, clear rules of engagement with their stakeholders, and stronger performance management standards that are aligned with development outcomes. expectations and directions for malaysian development financial institutions i would also like to share some reflections on expectations and directions for development financial institutions in malaysia i am well aware that development financial institutions around the world, including in malaysia, face unique challenges. in many ways, they have to manage and balance responsibilities that are substantially more complex than institutions with narrower profit - making mandates. in malaysia, these institutions have embarked on initiatives over the last decade and a half to build greater financial resilience and stronger foundations for sound management. this has enabled them to pay an important counter - cyclical role during downturns, and to support economic activity in targeted segments. however, more effort is required on critical appraisal of their development impact. it is much needed to sharpen the development focus, redirect and amplify the impact of financing activities. it will also provide the impetus for them to focus on other interventions that can increase their impact. we intend to work with their leadership and other stakeholders in government in the coming months to address a more focused delivery of mandates. in this respect, improving performance measurement frameworks and increasing transparency in the operations will be important areas of focus. we need to measure the right things, measure outcomes that matter and measure mandates that are relevant. this needs to be driven by a clear vision and strong leadership, and uncompromising governance. we expect our development financial institutions to operate with the highest level of professionalism and integrity at all levels of the organisation. indeed, we expect that given their mandates, they would lead in demonstrating how commercial principles can be fully reconciled with responsible finance and public interests. there are many instances where development financial institutions can play a catalytic role in economic development. they can open new frontiers in discovery and exploration ; accelerate poverty eradication and mitigate global climate change. this ought to be a noble aspiration. we share a common vision for them to contribute towards the growth potential of our economies and consequently improve the wellbeing of the people. we have an excellent program ahead to help us move in this direction. i hope it will sow the seeds for individual and collective actions that will both transform development financial institutions and enhance their impact. 4 / 4 bis central bankers'speeches