ASEAN and the world

(CPV) - The Republic of Korea signed a memorandum of understanding (MOU) at the early of May with the Asian Development Bank (ADB) earmarking $2 billion in cofinancing for ADB sovereign operations over the next 3 years. The cofinancing will support climate change-related projects as well as transport, energy, agriculture, education, governance reform, health, and information and communication technology (ICT) projects.

The 30th ASEAN-China Senior Officials’ Consultation took place in Jakarta on May 10, with the sides reaffirming commitments to enhancing their comprehensive strategic partnership (CSP).

Italy will host the Asian Development Bank’s (ADB) 58th Annual Meeting on 4 to 7 May 2025. The meetings will be held in Milan, marking Italy’s first time to host and the first ADB Annual Meeting in Europe in almost a decade.

Banks in the Association of Southeast Asian Nations (ASEAN) are grappling with uncertainty over their loan books as evidence of persistent inflation that leads central banks to refrain from slashing interest rates, increasing pressure in the financing business.

The Japanese and Philippine defence ministers agreed on May 3 to work toward the early conclusion of a Reciprocal Access Agreement (RAA) to boost security cooperation and facilitate joint drills.

(CPV) - Developing Asia and the Pacific is unprepared to secure the well-being of its rapidly aging population as the growing share of older people in the region faces challenges from low pension coverage to health problems, social isolation, and limited access to essential services.

(CPV) - On April 25th 2024, the Asian Development Bank (ADB) published its Annual Evaluation Review for 2023, which emphasized that sound project design, backed by adequate analysis and robust due diligence, is critical to the success of ADB’s sovereign, nonsovereign, and technical assistance operations.

(CPV) - The Asian Development Bank (ADB) joined the Government of Kiribati and other development partners in a groundbreaking ceremony today to officially mark the first step toward the construction of the largest solar photovoltaic plant in Kiribati.

(CPV) - The Government of Indonesia is filled with optimism in preparing for and welcoming delegates of the 10th World Water Forum. This meeting is a golden opportunity for Indonesia to push for achieving concrete solutions to overcome water problems.

(CPV) - The world's largest international water forum, the 10th World Water Forum, will soon be held in Bali on May 18-25, 2024. Various preparations are being finalized, including on showcasing the beauty of the “Island of Gods” to the participants.

(CPV) - The economy of Papua New Guinea (PNG) is expected to improve in 2024 and 2025, according to the Asian Development Outlook (ADO) April 2024, ADB’s flagship economic publication.

Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.

(CPV) - The Government of New Zealand has committed $25 million to the Asian Development Bank’s (ADB) Energy Transition Mechanism Partnership Trust Fund (ETMPTF) to support the shift toward clean, sustainable energy in Southeast Asia.

ASEAN foreign ministers on April 19 issued a statement calling on all parties to immediately cease violence and exercise maximum restraint in the border areas of Myanmar.

After a series of eruptions earlier this week that forced thousands to evacuate, Mount Ruang in North Sulawesi, Indonesia, continued to emit ash on April 19 afternoon.

Thailand and New Zealand on April 17 agreed to upgrade bilateral ties to a strategic partnership by 2026, on the occasion of the 70th anniversary of bilateral diplomatic ties.

(CPV) - The Philippine economy is expected to post faster growth this year and the next on the back of slowing inflation, stronger and broad-based domestic demand, and higher public investment, according to a new report released by the Asian Development Bank (ADB) on April 11th 2024.

(CPV) - Developing economies in Asia and the Pacific are forecast to expand by 4.9% on average this year as the region continues its resilient growth amid robust domestic demand, improving semiconductor exports, and recovering tourism.

The Ministry of Public Security of Laos will deploy more than 700 traffic police officers to over 100 intersections across the capital Vientiane to ensure road safety during the Lao New Year celebration, Bunpimay festival, in mid-April.

Authorities of the Cambodian capital city have issued a directive urging tourists to respect traffic laws during the upcoming traditional Khmer New Year, Chol Chnam Thmey.

(CPV) - The Asian Development Bank (ADB) plans to launch an ASEAN Climate Finance Policy Platform, which will support Southeast Asian finance ministry leaders in advancing collective action in the battle against climate change, ADB President Masatsugu Asakawa announced on the early of April.

Head of the National Food Agency of Indonesia (Bapanas) Arief Prasetyo Adi said on April 4 that the rice assistance programme for citizens is progressing positively, contributing to price control.

The US chip manufacture Nvidia is planning to build a 200 million USD artificial intelligence (AI) centre in Indonesia as part of its push into Southeast Asia.

A Vietnamese delegation led by Minister of Finance Ho Duc Phoc and Deputy Governor of the State Bank of Vietnam Pham Quang Dung attended the 11th ASEAN Finance Ministers and Central Bank Governors’ Meeting (11th AFMGM) held in Luang Prabang, Laos, on April 5.

(CPV) - Asian Development Bank (ADB) President Masatsugu Asakawa stressed the need for proactive fiscal policy to achieve high-quality development in the People’s Republic of China (PRC) in his address at the China Development Forum (CDF) in Beijing at the end of March.

(CPV) - The sustainable bond market of member economies of the Association of Southeast Asian Nations (ASEAN), the People’s Republic of China (PRC), Japan, and the Republic of Korea expanded 29.3% last year, outpacing the 21% growth of the global and euro-area sustainable bond markets, according to a new report by the Asian Development Bank (ADB).

(CPV) - Global television audiences who tune in for their local weather reports today are in for a surprise – a special forecast from the year 2050. While the format is familiar, the forecasts – anchored by children – are not.

Thai marine biologists are making efforts to save the country’s reefs from degradation driven by warming oceans and human activity like tourism.

Malaysia has rejected an offer to host the 2026 Commonwealth Games Federation (CGF). The decision was made at a cabinet meeting on March 22.

The Philippines on March 16 set a new Guinness World Record for “largest human lung formation” ahead of World Tuberculosis (TB) Day.