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.

Better connectivity between South Asia and Southeast Asia – through hardware and associated software – can unlock the full benefits of closer economic ties between the two subregions and help rebalance Asian growth toward domestic and regional markets, delegates at the 46th Annual Meeting of ADB heard today.

Public services in developing Asia’s are frequently failing to reach the needy, says a new ADB study which recommends improvements to avoid a further widening of the region’s already sharp divide between rich and poor.

Growth in Asia and the Pacific has been more robust than expected after the global crisis, and must be sustained for the region to reduce poverty and increase prosperity, ADB President Takehiko Nakao said in his first address to the ADB Board of Governors.

ADB and Microsoft Corp. will showcase the Apps For Asia – Redesigning Development Program at the ADB’s 46th Annual Meeting. The program includes concepts for mobile applications that track water usage, consolidate the most sought-after emergency services, monitor medication use among tuberculosis patients, and help public transit users plan travel.

Developing Asia must invest in skills, technologies, and the private sector to move beyond low-cost manufacturing and ensure economic growth remains strong, delegates at the Governors’ Seminar at the 46th Annual Meeting of the Board of Governors of ADB heard today.

ADB and International Enterprise (IE) Singapore today signed a Letter of Commitment to launch a public-private partnership initiative to catalyze infrastructure development within ASEAN.

ADB and Government of Papua New Guinea have today signed two loans that will help boost electricity access rates in Port Moresby to 74% and extend the city’s power grid to an estimated 3,000 low-income households. The loans were signed at ADB’s 46th Annual Meeting in New Delhi, India.

The ASEAN Infrastructure Fund Limited is set to begin its lending operations in the second half of 2013, with a pipeline of around $1 billion in projects for the next three years.

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.