News Releases

Companies operating in developing Asia lost out on nearly $425 billion in trade finance in 2011 alone, according to a new survey by ADB.

ADB is resuming operations in Myanmar, with an assistance package for social and economic development that is designed to build a solid foundation for further reforms to alleviate poverty and foster growth.

ADB is providing $48 million to help goods move more smoothly in and out of Bangladesh, Bhutan, and Nepal, by overhauling time-consuming, costly, and often opaque customs procedures that are inhibiting intraregional trade.

ADB is providing $198 million, with an additional $60 million from partner organizations, to fund a partial upgrade of one of Bangladesh’s most critical regional transport corridors together with two land ports, giving a shot in the arm to connectivity and trade across South Asia.

ADB and the OPEC Fund for International Development signed a risk distribution agreement to support trade in emerging Asian countries under ADB’s Trade Finance Program.

Ministers from 10 nations spanning the Caucasus, Central, East, and South Asia will gather here on 29-31 October to discuss concrete ways to boost connectivity and cooperation in their region through to 2020.

ADB and Norway will help Myanmar cope with an exploding tourism sector with a $225,000 grant designed to generate a sustainable tourism master plan.

For the first time, buses and trucks will be able to cross overland between the rugged southern regions of the People’s Republic of China and the remote northern regions of Viet Nam using a 1,300 kilometer route spanning from Ha Noi to Shenzhen made possible through a road transport agreement between the two countries.

Intra-regional trade transactions using renminbi and Indian rupee are expected to rise, prompting the ADB to start supporting deals denominated in these two Asian currencies under its Trade Finance Program.

Ministers and senior government officials from the six Greater Mekong Subregion countries met today to discuss ways of expanding economic corridors to better facilitate the movement of people and products around the subregion.