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The Latest Breaking News from the Asian Development Bank

Multilateral banks are key to financing the fight against global warming. Here is how they work

International mega banks, funded by taxpayer dollars, are the biggest, fastest-growing source of climate finance for the developing world

The Independent UK

Asia Faces Climate Crisis Impact, Urgent Action Needed

Learn about the Asian Development Bank report highlighting Asia's vulnerability to climate change and the urgent need for increased investment and coordina...

Top News

Asia needs to spend much more to adapt to climate change and limit its damage, bank study says

A study by the Asian Development Bank shows that countries in Asia will suffer worse damage from the climate crisis than other regions and they are not spending enough to limit the damage and adapt to changing weather patterns and natural disasters

The Independent UK

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Asian Development Bank raises growth forecast for region, but warns of risks from trade sanctions

The Asian Development Bank says it expects developing economies in the region to grow at a 5% annual pace this year, up slightly from its earlier estimate of 4.9% growth

The Independent UK

A growing type of insurance, called parametric insurance, is helping farmers and others in developing countries respond to extreme weather events

The Independent UK

NGOs Accuse ADB Of Funding Indonesia Coal Plants Despite Clean Energy Promises

Green NGOs have accused the Asian Development Bank of indirectly financing coal plants in Indonesia through a $600 million loan despite promises to no longer fund projects tied to the fossil fuel, according to a new report.

International Business Times

China's Realistic GDP Target Despite Challenges, ADB Reports

The Asian Development Bank assesses China's GDP target as realistic and achievable amidst challenges.

Top News

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Indian tourists’ boycott call post Modi visit to Lakshadweep may impact Maldives | Data

A recent diplomatic row between India and the Maldives, sparked by disparaging remarks made by Maldivian ministers on social media regarding Prime Minister Narendra Modi’s visit to Lakshadweep, led to an uproar on Indian social media. The Maldivian government, distancing itself from the comments, suspended the ministers. Concerns arose about…

The Hindu

Asian Development Bank approves a $200M loan to debt-stricken Sri Lanka

The Asian Development Bank says it approved $200-million concessional loan to debt-stricken Sri Lanka to help stabilize the country’s finance sector

The Independent UK

Climate funding is in short supply. So some want to rework the financial system

Efforts to boost climate financing have moved beyond national pledges. Now the focus is on overhauling organizations like the World Bank and providing countries debt relief.

WEKU

Chinese officials voice faith in economy and keep interest rates steady as forecasts darken

Leading Chinese planners have voiced confidence in the outlook for the world's second-largest economy, holding key interest rates steady amid signs of improvement in some areas such as services

The Independent UK

Albanese government urged to push international banks to stop funding fossil fuel development

Exclusive: Report claims Australia’s shareholdings in development banks has made it responsible for investing $828m in fossil fuel projects over five years

The Guardian - AU

Vietnam's human rights record is being scrutinized ahead of $15 billion climate deal

Environmental and human rights groups say Vietnam's crackdown on civil society will undermine an international climate program that's also aimed at boosting the country's economic development.

WEKU

Agencies predict economic uptick

Prime Minister Prayut Chan-o-cha is feeling upbeat regarding Thailand's economic recovery, citing the forecasts of several reputable economic agencies including the Asian Development Bank (ADB) and Japan Center for Economic Research (JCER) that anticipate a rebound in 2023 and 2024.

Bangkok Post

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Bangkok Post

Region told to rev up decarbonisation

Southeast Asia needs to accelerate decarbonisation of its global value chains (GVCs) as the region could face up to a 30% loss of GDP annually by 2100 due to climate change, according to the Asian Development Bank (ADB).

Bangkok Post

ADB gauges 2023 growth rate at 3.3%

Thailand's economic growth is projected at 3.3% this year and 3.7% in 2024 as a recovery in tourism and private consumption help offset a slowdown in exports, according to the Asian Development Bank (ADB).

The Independent UK

ADB forecasts China, India to power strong growth in '23

The Asian Development Bank says China's recovery from the pandemic and strong demand in India will drive strong economic growth in Asia this year

Reuters

Chinese company wins tender to redevelop Solomon Islands port - official

The Solomon Islands has awarded a Chinese state company a multi-million dollar contract to upgrade an international port in Honiara in a project funded by the Asian Development Bank, an official from the island nation said on Wednesday.

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Reuters

Sri Lanka's economic crisis: From protests to IMF bailout

The International Monetary Fund (IMF) has approved a nearly $3 billion bailout for Sri Lanka, which could help the country unlock up to $7 billion more from other lenders such as the World Bank and the Asian Development Bank.

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