Diplomat proposes ways to beef up India – ASEAN relations
Vietnamese Ambassador to India Pham Sanh Chau has attended workshops themed “Act East through North East” and “Natural Allies in Development and Interdependence” held recently by the Indian Ministry of External Affairs and the Government of Assam State.
USD250 million loan to help Philippines deliver on climate ambitions
(CPV) - The Asian Development Bank (ADB) has approved a USD250 million policy-based loan to support the Philippines in its climate change adaptation and mitigation efforts.
USD400 million loan to support expansion of Philippine capital markets
(CPV) - The Asian Development Bank (ADB) has approved a USD400 million policy-based loan to help the Philippine government further deepen the country’s domestic capital markets and increase the supply of long-term finance, especially for infrastructure development, which is crucial for the country’s sustained economic growth.
ADB stays aligned to its strategy 2030 vision amid COVID-19 pandemic
(CPV) - The Asian Development Bank (ADB) responded effectively to its clients’ urgent needs amid the COVID-19 pandemic and should accelerate efforts to achieve the vision of its Strategy 2030 to support recovery and the Sustainable Development Goals, according to its Development Effectiveness Review (DEfR) released on May 25th 2022.
Improving sectoral growth drivers to boost Southeast Asia’s post-pandemic recovery
(CPV) - Transforming Southeast Asia’s established tourism, garments, and agro-processing industries, and leveraging advances in electronics and digital trade, could support the region’s recovery from the COVID-19 pandemic, according to a new report by the Asian Development Bank (ADB) launched at the middle of May.
ADB Board of Governors convenes first stage of 55th Annual Meeting
(CPV) - The Board of Governors of the Asian Development Bank (ADB) approved ADB’s 2021 financial statements and net income allocation at the first stage of the bank’s 55th Annual Meeting on May 5th 2022.
ADB expands policy-based lending to USD18 billion between 2022 and 2024 and enhances crisis response
(CPV) - The Asian Development Bank (ADB) has approved a ceiling of up to USD18 billion in policy-based lending (PBL) between 2022 and 2024 and enhanced its crisis-response instruments to support its developing member countries (DMCs) as they pursue a green, resilient, and inclusive recovery.
ADB operations reach USD22.8 billion in 2021 to boost pandemic response, promote green recovery
(CPV) - The Asian Development Bank (ADB) committed USD22.8 billion from its own resources in 2021 to help Asia and the Pacific tackle the immediate effects of the coronavirus disease (COVID-19) pandemic and promote a green recovery.
Philippines unveils offshore wind power roadmap
The Philippines has released its offshore wind power roadmap, in which two scenarios are outlined for the development of the country’s wind power industry.
Cambodia’s economy to accelerate in 2022 and 2023
(CPV) - Cambodia’s economy is forecast to grow 5.3% in 2022 and 6.5% in 2023, thanks to strong merchandise exports and foreign direct investment inflows, according to an Asian Development Bank (ADB) report released on early April.
Malaysia's total trade soars to new high in March
Malaysia's total trade recorded a growth rate of 27.3 percent year-on-year last month to reach a new high of 236.6 billion RM (55.69 billion USD), the Department of Statistics Malaysia (DOSM) announced on April 18.
ASEAN, US to convene special summit in May
Cambodia, as the Chair of the Association of Southeast Asian Nations (ASEAN) in 2022, announced that the bloc and the US are set to convene a special summit to celebrate the 45th anniversary of their dialogue relations in Washington D.C., on May 12 and 13.
Myanmar's Yangon int'l airport reopens after two-year suspension
Myanmar reopened the Yangon International Airport on April 17, more than two years after the country suspended all commercial flights due to the COVID-19 pandemic.
Indonesia’s economic growth to strengthen in 2022 and 2023
(CPV) - Indonesia’s economy is expected to grow by 5.0% in 2022 and 5.2% in 2023 as domestic demand continues to recover, according to a report by the Asian Development Bank (ADB) released on early April.
Indian economy to grow 7.5% in FY2022, 8% in FY2023
(CPV) - India’s economy will grow 7.5% in fiscal year (FY) 2022 and 8% in FY2023, supported by increased public investment in infrastructure and a pickup in private investment, the Asian Development Bank (ADB) forecasts.
Singapore's GDP expands by 3.4 percent in Q1
Singapore's Ministry of Trade and Industry recently announced that the country's gross domestic product (GDP) grew by 3.4 percent year on year in the first quarter of 2022, moderating from the 6.1 percent growth in the previous quarter, reported Xinhua news agency.
Domestic revenue mobilization vital for Tuvalu, as growth projected to reach 3% in 2022
(CPV) - Growth in the Central Pacific economy of Tuvalu is projected to reach 3% in both 2022 and 2023, according to a new economic report released on early April 2022 by the Asian Development Bank (ADB).
Structural reforms key to accelerating growth in Pakistan
(CPV) - After a strong economic rebound in fiscal year (FY) 2021, Pakistan’s economic growth is expected to moderate to 4% in FY2022 due to tighter fiscal and monetary policies before picking up again in FY2023, the Asian Development Bank (ADB) said in a report on early April 2022.
Malaysia administers COVID-19 booster shot to protect vulnerable people
As Malaysia now considers COVID-19 an endemic disease, it is important to continue to provide optimal protection for the most vulnerable groups, including the elderly and high-risk individuals, said Dr Anas Alam Faizli, chief executive officer of ProtectHealth.
ASEAN, US partners launch ASEAN SME Academy 2.0
The Association of Southeast Asian Nations (ASEAN) in collaboration with the US-ASEAN Business Council (US-ABC) and the US Agency for International Development (USAID) on April 8 officially launched the ASEAN SME Academy 2.0, an upgraded version of an online learning platform.
Adaptive fiscal, monetary policies crucial for economic recovery: ASEAN officials
ASEAN finance ministers and central bank governor gathered at their 8th meeting (AFMGM) via videoconference on April 8.
COVID-19: Singapore opens to vaccinated foreign arrivals
Singapore fully reopened its borders to all vaccinated visitors on April 1 after a two-year closure over COVID-19.
Japan reaffirms backing for rules-based international order in East Sea
Japan strongly supports compliance with the 2016 Arbitral Tribunal Award on the East Sea arbitration case, Japanese Ambassador to the Philippines Kashikawa Kazuhiko has twitted.
Private sector development remains critical to Uzbekistan reforms
(CPV) - Private sector development remains critical to ongoing reforms in Uzbekistan and the Asian Development Bank (ADB) will continue to help the country strengthen its private sector as it pursues inclusive and sustainable growth, ADB President Masatsugu Asakawa said in a meeting with President of Uzbekistan Shavkat Mirziyoyev in Tashkent on March 25th 2022.
Laos starts giving fourth COVID-19 vaccine doses to adults
The Ministry of Health (MoH) of Laos on March 24 said that the country has started to inject the fourth COVID-19 vaccine doses into high-risk groups and people from 18 years old.
10 ASEAN heritage parks of Vietnam
With 10 ASEAN heritage parks, Vietnam is home to the highest number of such parks in the region.
Higher bond yields in developed markets spill over to emerging East Asia
(CPV) - Emerging East Asia’s total local currency bond issuance rose 7.1% to an all-time high of USD9 trillion in 2021, according to the latest issue of the Asia Bond Monitor, released on March 25th 2022 by the Asian Development Bank (ADB).
ADB to support planning of Indonesia’s new capital
(CPV) - The Asian Development Bank (ADB) has pledged to help Indonesia plan its new capital, Nusantara, as a carbon-neutral and inclusive city.
USD300 million ADB loan to further develop Pakistan’s capital markets
(CPV) - The Asian Development Bank (ADB) approved a USD300 million loan to further develop Pakistan’s capital markets on March 22th 2022 to promote private investment in the country, and help to mobilize domestic resources to finance sustainable growth.
ADB, Nepal conduct joint review of projects to improve implementation and delivery of development results
(CPV) - The Government of Nepal and the Asian Development Bank (ADB) are conducting a 2-day country portfolio review meeting to assess the progress and proactively address issues of ADB-supported development projects in Nepal for timely delivery of development results.