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The Latest Breaking News from Asian Development Bank

New economic prospects needed for 'chameleon' Nauru

The tiny Republic of Nauru is highly dependent on revenue from Australia. Could it follow Tuvalu and sign a comprehensive treaty with Canberra?

AAP

ADB warns China it risks wasting money on state-led growth

China needs to level the playing field between private and state owned firms, the Asian Development Bank's chief economist said on Thursday, adding that the world's second-largest economy risks "wasting a tonne of money" with a state-led growth model.

Reuters

Samoan Prime Minister Fiame Naomi Mata'afa warns China not the only outside power looking to increase their presence in Pacific

During a visit to Canberra, Samoan Prime Minister Fiame Naomi Mata'afa warns that China is not the only major power that may want to secure further military access to the Pacific "under the guise of protecting assets".

ABC News

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ADB, Monsoon Wind ink financing deal

The Asian Development Bank (ADB) and Monsoon Wind Power Co have signed a financing agreement worth US$692.5 million to support the construction of a 600-megawatt wind power plant in southern Laos, the largest cross-border wind energy project in Asean.

Bangkok Post

‘Do-nothing’ bureaucrats hold back Vietnam

Vietnam’s Communist Party is growing alarmed about a new mantra taking hold among bureaucrats: Do a lot, get in trouble for a lot. Do less, get in trouble for less. Do nothing, get in trouble for nothing.

Bangkok Post

Sri Lanka President plans to visit New Delhi to discuss his country's economic crisis

Ranil Wickremesinghe met PM Modi briefly in Japan during their visit to Shinzo Abe’s funeral

The Hindu

Bank to provide $2.5 billion to flood-ravaged Pakistan

Pakistan's Finance Ministry says the Asian Development Bank will provide $2.5 billion in aid to the impoverished flood-affected country, where climate-induced deluges of rain have killed nearly 1,700 people since-mid- June

The Independent UK

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ADB plans $14 billion program to ease food crisis in region

The Asian Development Bank plans to provide at least $14 billion over 2022-2025 in a comprehensive program of support to ease a food crisis in Asia and the Pacific, its president said on Tuesday.

Reuters

ADB to devote $14B to help ease food crisis in Asia-Pacific

The Asian Development Bank says it is devoting at least $14 billion through 2025 to help ease a worsening food crisis in the Asia-Pacific

The Independent UK

‘Risks loom large’: Asian Development Bank cuts growth forecast

Manila-based development bank lowers the growth forecast for 2022 from 5.2 percent to 4.3 percent.

Al Jazeera

Asian lender ADB cuts forecasts to reflect weakening outlook

The Asian Development Bank has downgraded its forecasts for growth in the region, citing the war in Ukraine, rising interest rates to combat decades-high inflation, and China's slowing economy

The Independent UK

Pandemic sets back Asia-Pacific's poverty fight by 2 years - ADB

The pandemic has set back the fight against poverty in the Asia-Pacific region by at least two years, and many nations will find it harder to escape poverty, the Asian Development Bank (ADB) said on Wednesday.

Reuters

Green recovery

As the world emerges from Covid-19 and faces stagflation and war, climate crisis remains one of the greatest threats to humanity. A green recovery has become a priority for policymakers in Southeast Asia and around the world, who aim to create a more sustainable path that focuses on the environment,…

Bangkok Post

Trading ecology for tourism: Why Biren Singh’s dream project might be a nightmare

The Manipur government’s proposed mega ecotourism project at the Loktak lake – a site of global significance under the Ramsar convention and home to the critically endangered sangai deer – has again waded in troubled waters. Tenders to appoint consultants for the Rs 1,700 crore project in Bishnupur district were…

Newslaundry

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Al Jazeera

Asia’s economic growth outlook slashed on China, Ukraine fears

Asian Development Bank forecasts region’s developing economies to grow 4.6 percent in 2022 amid worsening conditions.

Bangkok Post

Growth forecast slashed for developing Asia as prices soar

MANILA: The Asian Development Bank on Thursday slashed its 2022 growth forecast for developing Asia and warned economic conditions could worsen, as the war in Ukraine and supply chain disruptions drive up prices.

360info

The Pacific’s spiralling debt – and what governments can do about it

Rising debt and declining income seem to add up to an austere future for Pacific Island nations. But belt-tightening may make things worse.

The Independent UK

Bangladesh marks opening of country's longest bridge

Bangladesh’s Prime Minister Sheikh Hasina has celebrated the opening of the country’s longest bridge, which took eight years to build amid setbacks involving political conflict and corruption allegations

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Bangkok Post

Asean must seize new opportunities

As Asean economies continue their path to safely reopening and getting back to business, they must also manage growing economic challenges and identify how best to seize new opportunities for a resilient, inclusive, and sustainable recovery.

The Hindu

Asian Development Bank to provide $2 million loan to support urban development in Nagaland

Nagaland’s towns and cities face the long-term challenges of climate change, lack of basic amenities and poor connectivity

Al Jazeera

Asia set for strong growth despite Ukraine risks: ADB

Manila-based bank forecasts region’s developing economies to grow 5.2 percent in 2022 and 5.3 percent in 2023.

Bangkok Post

Pandemic sends 4.7m more people into ‘extreme poverty’ in SE Asia

MANILA: The pandemic added 4.7 million more people to Southeast Asia's most extreme poor in 2021, reversing gains made in fighting poverty, the Asian Development Bank (ADB) said on Wednesday, while urging governments to take steps to boost economic growth.

Bangkok Post

ADB: Covid erases 9 million jobs in Southeast Asia

The Covid-19 pandemic obliterated 9.3 million jobs in Southeast Asia as lockdowns hit the region’s traditional engines of growth such as hospitality and tourism, according to the Asian Development Bank (ADB).

Reuters

Pandemic sends 4.7 million more people into extreme poverty in SE Asia - ADB

The pandemic added 4.7 million more people to Southeast Asia's most extreme poor in 2021, reversing gains made in fighting poverty, the Asian Development Bank (ADB) said on Wednesday, while urging governments to take steps to boost economic growth.

Al Jazeera

Asia Pacific trade booms despite COVID curbs: ADB

Asian Development Bank President Masatsugu Asakawa says harsh pandemic restrictions are now ‘more difficult to justify’.

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