Philippine President Benigno Aquino III Thursday welcomed participants of the Asia-Pacific Economic Cooperation (APEC) Finance Ministers' meeting in the central province of Cebu.

Aquino expressed optimism that the Cebu Action Plan (CAP), a regional development roadmap, that is set to be launched by the finance ministers Friday, could help accelerate the shared journey of the region towards prosperity.

The four key pillars of CAP are the financial integration, fiscal reforms and transparency, financial resilience and infrastructure development and financing.

Aside from the APEC finance ministers and senior officials, over 100 financial industry players, including chief executive officers of multinational banks, also flew to Cebu to participate in the discussion of the CAP. Endi

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