Asian policy makers have agreed to double the size of a regional currency swap to cope with a potential financial crisis that could hit the region.

Sources say representatives from the financial ministries and central banks of South Korea, China, Japan and ten Southeast Asian countries agreed Wednesday in Phnom Penh, Cambodia to double the "Chiang Mai Initiative Multilateralization" agreement to 240 billion U.S. dollars.

A source says each country’s contribution to the fund will be readjusted in line with the ratio set up under the agreement. South Korea, China and Japan will account for 80 percent of the increased amount, while the ten other nations pay the remaining 20 percent.