Asia to need USD 1.7 trillion per year for developing infrastructure , ADB

Asia and the Pacific will need 1.7 trillion USD per year from now to 2030 for developing infrastructure, including climate change mitigation and adaptation costs, the Asian Development Bank (ADB) said in a new flag ship report released on February 28 in Manila.

Asia and the Pacific will need 1.7 trillion USD per year from now to 2030 for developing infrastructure, including climate change mitigation and adaptation costs, the Asian Development Bank (ADB) said in a new flag ship report released on February 28 in Manila.

Asia to need USD 1.7 trillion per year for developing infrastructure , ADB

The Hong Kong-Zhuhai-Macau Bridge under construction. (Photo: European Pressphoto Agency)


The investment is necessary for the region to maintain growth momentum, according to the Meeting Asia’s Infrastructure Needs report, which focuses on the region’s power, transport, telecommunications, and water and sanitation infrastructure. It comprehensively examines current infrastructure stocks and investments, future investment needs, and financing mechanisms for developing Asia.

“The demand for infrastructure across Asia and the Pacific far outstrips current supply,” said ADB President Takehiko Nakao. “Asia needs new and upgraded infrastructure that will set the standard for quality, encourage economic growth, and respond to the pressing global challenge that is climate change.”

The report noted that while infrastructure development in the 45 countries covered in the report has grown dramatically in recent decades, a substantial infrastructure gap remains, with over 400 million people still lacking electricity, 300 million without access to safe drinking water, and about 1.5 billion lacking access to basic sanitation. Many economies in the region lack adequate ports, railways, and roads that could connect them efficiently to larger domestic and global markets.

Insider

South Korea vs Ghana World Cup 2022: Date & Time, Preview, Team News, Prediction World

South Korea vs Ghana World Cup 2022: Date & Time, Preview, Team News, Prediction

Both South Korea and Ghana are searching for their first wins at this year’s World Cup. Ghana are facing the prospect of an early elimination from World Cup 2022 Group H when they travel to the Education City Stadium to face South Korea on Monday.
16:18 | 28/11/2022

Most read

Phiên bản di động