Lakshmi Venkatachalam: News Releases

Asia needs a robust bond market that can match the financing requirements of huge infrastructure projects in the region and the growing appetite for long-term assets among local pension and insurance companies, a seminar at ADB's 46th Annual Meeting heard today.

ADB is investing $30 million equity in NSL Renewable Power Private Ltd. (NRPPL), a leading renewable energy company in India, to support hydropower and wind power projects that will generate 530 gigawatt-hours every year, and reduce carbon dioxide emission by 400,000 tons annually from 2017 onward.

Development Finance Institutions are sharing experiences and lessons in corporate governance at a two-day meeting hosted by ADB. The conference is meant to intensify the collaboration among signatories of the Corporate Governance Development Framework and to raise the bar on better enforcement of rules, practices and procedures by which client-beneficiaries operate.

Asia and the Pacific needs to create better infrastructure and finance and closer trade links if the region is to establish a firm foundation for strong, collective, long-term growth, panelists said here today. The public and private sectors should closely collaborate to achieve that.

Development finance institutions around the world should encourage greater use of risk-sharing models like public-private partnerships to ensure critical infrastructure gets built in developing countries. The institutions should do that by helping create the right regulatory and market environment and offering risk mitigation instruments to spur private capital, a seminar audience heard today.

ADB today signed trade finance agreements with six banks in Armenia, a move that is expected to further bolster the country's trade sector and help ensure sustainable economic growth in the Central Asian country.

ADB today signed trade finance agreements with Bank of Georgia and TBC Bank that are expected to bolster the trade sector and Georgia's role as a strategic hub between Europe and Asia.