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The Latest Breaking News from ADB

Debt-saddled Laos Struggles To Tame Rampant Inflation

Suffocating under a mountain of debt to China, communist Laos is struggling to tame rampant inflation, with food prices rising so sharply that a growing number of households are resorting to foraging.

International Business Times

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

Energy summit seeks to curb cooking habits that kill millions every year

Harmful cooking practices result in the deaths of 3.7 million people every year with children and women most at risk.

Al Jazeera

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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

Risky premise: On Asian Development Bank forecast, India’s GDP growth

The ADB’s latest growth forecast for India’s GDP is slower than the 7.6% pace that India’s National Statistical Office has estimated for the 12 months that ended on March 31

The Hindu

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

'Resilient' Africa Set For Growth Rebound: ADB

Africa saw the pace of economic growth sag last year as inflation continued to rise but is set to rebound this year, the African Development Bank said Friday.

International Business Times

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‘First line of defence’: mangroves – and mitigation - lost in Fiji’s tourism development

Mangroves, vital in protecting villages from environmental disasters, have been destroyed to build luxury hotels

The Guardian - AU

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

Smog obscures Dubai skyline on 'Health' day at COP28 climate summit

Dubai's glitzy skyline was obscured by a blanket of smog rated as "unhealthy" on Sunday as thousands of delegates attended the fourth day of the COP28 summit, which was designated as "health" day and where topics of discussion include air quality and the unhealthy affects of climate change.

France 24

₹3.32 crore ADB grant for safe public transport travel in Hyderabad

Team of tech experts from BITS Hyderabad, IIT Mumbai & Kharagpur, led by Prof. Prasanta Sahu, wins ADB grant of US$3.99 lakh to develop TUTEM tech for urban transit. Aim: enhance last-mile security for metro rail passengers & make Hyderabad a safe city. Police & metro rail authorities working together…

The Hindu

Australia tells big development banks to ‘lift their game’ in the Pacific

There are concerns the World Bank and ADB are giving contracts to low-price bidders who then demand more when budgets blow out

The Guardian - AU

India, Asian Development Bank to set up climate change and health hub in Delhi

India to open climate change & health hub in Delhi in partnership with ADB. WHO Centre for Global Traditional Medicine in Gujarat to provide leadership on global health matters.

The Hindu

Asia’s poor grew by 68 million people after pandemic, report says

More than 155 million people were living on less than $2.15 a day last year, Asian Development Bank says.

Al Jazeera

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The Hindu

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.

Bangkok Post

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.

The Hindu

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

Bangkok Post

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.

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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).

Al Jazeera

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.

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

Bangkok Post

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.

Reuters

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.

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