ASEAN and the world

Indonesia’s Meteorology, Climatology, and Geophysics Agency (BMKG) on December 31 detected a 6.4-magnitude earthquake shaking the Sarmi area, northern Papua province, in early morning.

(CPV) - The Asian Development Bank (ADB) has approved a $240 million loan to improve 700 kilometers of rural roads in Uzbekistan, making them safer and more climate-resilient to enhance connectivity and promote rural development.

With a strong foundation, Indonesia will generate optimism and demonstrate an ability to recover from many current global challenges, said participants at a December 22 seminar on the country’s 2024 economic prospects.

(CPV) - The Asian Development Bank (ADB) today joined the Government of Vanuatu and members of the Malekula community in commissioning the Brenwe hydropower plant and transmission and distribution line extension in Malekula which will deliver sustainable, affordable power to residents and businesses.

Malaysia maintained its trade surplus in November, valued at 12.41 billion MYR (2.68 billion USD), making it the 43rd consecutive month of trade surplus.

(CPV) - The Asian Development Bank (ADB) signed a $10 million grant with the Government of the Lao People’s Democratic Republic (Lao PDR) to strengthen responses to food security challenges facing the country.

Japanese Prime Minister Kishida Fumio has pledged to cooperation with the Association of Southeast Asian Nations (ASEAN) to promote economic growth of both sides through boosting investment and people-to-people exchanges.

Over the past 50 years, the relationship between the Association of Southeast Asian Nations (ASEAN) and Japan has grown comprehensively and deeply across all fields, from politics, security, economy and investment to culture, society, and development cooperation.

(CPV) - The Asian Development Bank (ADB) has appointed Takeo Konishi as Director General of its South Asia Department (SARD), where he will be responsible for the development and implementation of the department’s strategy in the region. He assumed office on 11 December.

The Indonesian Ministry of Health is planning to administer the fifth dose of COVID-19 vaccine for the elderly and those with underlying diseases, given the uptick in the new cases in the country.

(CPV) - The Asian Development Bank (ADB) has approved a $650 million investment loan to upgrade and enhance primary health care facilities and public health laboratories nationwide to improve prevention, detection, and treatment of communicable diseases, noncommunicable diseases, and other health conditions.

(CPV) - The Asian Development Bank (ADB) has raised its economic forecast for developing economies in Asia and the Pacific, after robust domestic demand drove higher-than-expected growth in the People’s Republic of China (PRC) and India.

(CPV) - The Asian Development Bank (ADB) has approved financing of up to $2.1 billion for the construction of a 32.15 kilometer (km) climate-resilient bridge connecting Bataan and Cavite provinces across Manila Bay to decongest Metro Manila, enable greater mobility of labor and goods, and enhance economic productivity in the country’s largest region of Luzon.

(CPV) - The Asian Development Bank (ADB) has appointed Muhammad Ehsan Khan as Director General of its East Asia Department (EARD), where he will be responsible for the department’s vision and strategy in the region. He assumed office last week.

(CPV) - The Asian Development Bank (ADB) today approved a $250 million policy-based loan to develop industrial corridors in India to increase the competitiveness of the manufacturing sector, strengthen national supply chains and links with regional and global value chains, and create more and better jobs.

The Indonesian government is considering granting visa-free entry to nationals of 20 countries and territories, aiming to attract more foreign visitors and promote economic growth.

The Malaysian government is committed to increasing the acceptance level of Malaysians to shift to electric-based vehicles including electric motorcycles, the country’s Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said on December 8.

Singapore and China will put in place a 30-day mutual visa exemption agreement early next year, the Singapore Ministry of Foreign Affairs announced on December 7.

(CPV) - The Asian Development Bank (ADB) and the Japan International Cooperation Agency (JICA) have signed an agreement to establish the Leading Asia's Private Infrastructure Fund 2 (LEAP 2) with capital of up to $1.5 billion provided by JICA. The fund aims to cofinance high-quality, resilient, and sustainable infrastructure projects in Asia and the Pacific.

(CPV) - The Asian Development Bank (ADB), Global Energy Alliance for People and Planet (GEAPP), and the Monetary Authority of Singapore (MAS) today announced their intent to establish a blended finance partnership to accelerate the energy transition at scale in Asia.

(CPV) - Multilateral development banks (MDBs) published a joint statement on December 3rd 2023 that presents concrete and urgent actions to scale up finance and enhance climate outcomes measurement, strengthen country-level collaboration, and increase cofinancing and private sector engagement in the response to climate change. The announcement came as world leaders are gathering at COP28 in Dubai.

The ASEAN Taxonomy Board (ATB), representing ASEAN finance sectoral bodies, has announced the completion of targeted stakeholder consultation for Version 2 of the ASEAN Taxonomy for Sustainable Finance (ASEAN Taxonomy).

(CPV) - Member countries of the Central Asia Regional Economic Cooperation (CAREC) Program committed to work together to cut greenhouse gas emissions and build resilience to climate change on November 30th 2023.

(CPV) - Financial conditions in emerging East Asia weakened in the third quarter of 2023 amid expectations of higher interest rates for a longer period in the United States (US). In response to the elevated US interest rates, government bond yields rose across most markets in the region, according to a new report by the Asian Development Bank (ADB).

Thailand Volleyball Association (TVA) has an intention to invite regional countries, including Vietnam, to host the 20th edition of the FIVB Volleyball Women’s World Championship in 2025.

The Consulate General of the Republic of Korea (RoK) in the central city of Da Nang on November 24 held a conference on the expansion of investment cooperation between the RoK and central localities of Vietnam.

(CPV) - The Asian Development Bank (ADB) has approved a $200 million equivalent loan to strengthen the ecosystem, livelihoods, and climate resilience of the Dabie Mountain region in Huanggang Municipality, Hubei Province in the People’s Republic of China (PRC).

Thailand and China are co-hosting the 2023 Green Technology Expo in Bangkok from November 9-12 to strengthen cooperation and showcase achievements in climate change response and carbon neutrality.

The second edition of the Global Media Congress will take place at the Abu Dhabi National Exhibition Centre (ADNEC), Abu Dhabi, from November 14-16.

(CPV) - The Asian Development Bank (ADB) and the Global Environment Facility (GEF) have announced the establishment of Natural Capital Fund (NCF), which is a concessional fund designed to support projects that enhance food security while also protecting and restoring natural capital in ADB’s developing member countries (DMCs). GEF is supporting the NCF with an investment of $15 million.