Japan and 12 other Asian countries will likely agree to double the amount of funds available under a regional currency swap pact from the current $120 billion, international financial sources told The Nikkei on Saturday.
Joining Japan will be China, South Korea and the 10-member Association of Southeast Asian Nations (ASEAN).

The regional currency swap pact, known as the Chiang Mai Initiative (CMI), is designed to prevent a financial crisis in a country or countries with relatively small foreign-exchange reserves.
Currently, up to 20% of the $120 billion in available funds can be used without linkage to loans by the International Monetary Fund. Japan and the 12 other countries are expected to agree to raise this percentage significantly to prevent the European debt crisis from spilling over into Asia.
The countries are expected to reach a broad agreement on strengthening the functions of the CMI at a meeting of senior finance officials in Cambodia at the end of this month.
The agreement is expected to be finalized in May at a meeting of finance ministers and central bank governors from the so-called ASEAN+3 countries.