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The Latest Breaking News from ADB

ADB retains India's growth forecast at 6.4% for current fiscal

ADB retains India's growth forecast at 6.4% for FY22-23 and 6.7% for FY23-24. Inflation expected to decline to pre-pandemic levels. Domestic demand and services driving growth, while industrial activity and exports remain weak. Global outlook for next year has worsened.

The Hindu

Invest in quality infrastructure

Covid-19 has brought severe hardships to countless people and communities across the globe, but for the economies of the Association of Southeast Asian Nations, a resilient recovery is underway.

Bangkok Post

Need robust ADB that adopts transformational approach for regional development: Finance Minister

FM Nirmala Sitharaman stressed on the need for a robust ADB that adopts a transformational rather than incremental approach

The Hindu

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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

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).

Bangkok Post

Asia set for strong growth after China’s opening, ADB says

Manila-based development bank estimates region will grow by 4.8 percent in 2023 and 2024, up from 4.2 percent last year.

Al Jazeera

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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

The Independent UK

Digital consumers to propel Asean

A rapid increase in digital consumers is expected to be a major driver for Southeast Asia's economy, which is projected to grow by 4.7% this year, according to consulting firm YCP Solidiance.

Bangkok Post

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

Pakistan signs $475 million flood loan deal with ADB

Pakistan has signed a $475 million loan agreement for flood relief with the Asian Development Bank (ADB), the country's economic affairs minister said on Thursday, taking the total for the year to $2.7 billion with the agency.

Reuters

Donors dig deep to prop up Pacific economies left reeling by the 'dire consequences of COVID'

New figures shows that foreign aid to the Pacific surged to record highs as the COVID-19 pandemic wreaked havoc on regional economies, while Chinese development assistance fell to a new low.

ABC News

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

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

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The Independent UK

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 Hindu

Asian Development Bank pares 2022-23 GDP growth forecast for India to 7% from 7.5%

India’s inflation, ADB said, has turned out to be more persistent than expected, and led to a sharp tightening in monetary policy, while eroding consumers’ purchasing power

The Independent UK

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

Reuters

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.

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Bangkok Post

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,…

Reuters

Bangladesh seeking $2 Billion from World Bank, ADB - Bloomberg News

Bangladesh is seeking $2 billion from the World Bank and the Asian Development Bank (ADB) amid efforts to bolster its foreign exchange reserves, Bloomberg News reported on Wednesday.

The Times of India

ADB cuts India GDP forecast for FY23 to 7.2% on Covid, war impact amid inflationary pressure

NEW DELHI: Asian Development Bank (ADB) on Thursday trimmed India's economic growth forecast for current fiscal year to 7.2 per cent from 7.5 per cent as pandemic and war impact is weighing down alongside inflationary pressures.

Newslaundry

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…

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

Risks of effectively aiding people

At the end of December 2019, as I was moving from New Delhi to what I thought would be a leisurely retirement in Manila, I was complacent. The events that have buffeted the world since then, if I even thought of them, would have seemed to be total fantasy.

The Hindu

India’s GDP to take a big hit due to pandemic-linked learning losses for students: ADB study

The decline would be the highest among those of South Asian countries, say analysts

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