ASEAN and the world

(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.

(CPV) - The Asia-Pacific region is lurching towards an era of unmet aspirations, worsening inequalities, and a steady erosion of democratic spaces. Rising global tensions, new technologies, growing polarization, and existential threats linked to climate change threaten to disrupt improvements in well-being the region has seen in past decades, says a new report from the United Nations Development Programme.

Cambodia welcomed 3.92 million international tourist arrivals during the first nine months of 2023, surging 211% year on year, the country’s Ministry of Tourism said on November 3.

The Vietnamese Ministry of Foreign Affairs in coordination with the Embassy of the Republic of Korea (RoK) organised the ASEAN-RoK Strategic Forum in Hanoi on November 1.

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations (UN), expressed great concern at the current escalating situation in the Middle East and extended his deep condolences to the families of victims of recent attacks while addressing the UN General Assembly’s 10th Emergency Special Session held in New York on October 26-27.

(CPV) - Micro, small, and medium-sized enterprises (MSMEs), which played a key role in promoting recovery in Samoa during and after the COVID-19 pandemic, need policy and data support to boost their role as drivers of growth, according to a report by the Asian Development Bank (ADB).

Malaysia's royalty on October 27 chose Sultan Ibrahim Sultan Iskandar from the southern state of Johor to be the country's next King.

(CPV) - The Asian Development Bank (ADB) has approved a $160 million equivalent loan to improve inclusive, green, and sustainable urban–rural public services in Shanxi Province, the People’s Republic of China (PRC).

Lao cities and provinces recently destroyed tens of tonnes of drugs along with various related items that law enforcement agencies had previously seized, in response to the National Anti-Drug Day in the country (October 12).

The Chinese army will send troops to Yogyakarta, Indonesia, to participate in the live exercises held by the Humanitarian Assistance and Disaster Relief (HADR) Experts' Working Group (EWG) of the (ADMM-Plus) from October 14 -21.

(CPV) - The Asian Development Bank (ADB) has been awarded a contract as transaction advisor to help the Philippines Power Sector Assets and Liabilities Management Corporation (PSALM) to monetize the Caliraya–Botocan–Kalayaan (CBK) hydroelectric power plant complex and enhance energy security in the country’s main island of Luzon.

(CPV) - The Asian Development Bank (ADB) has approved a $300 million policy-based loan to support the Philippine government in creating a stronger institutional and policy environment to help expand Filipinos’ access to financial services, particularly the vulnerable segment of the population, and to promote economic growth.