Regional economic growth in developing Asia will decline sharply in 2020 due to the effects of the novel coronavirus (COVID-19) pandemic, before recovering in 2021, according to the Asian Development Outlook (ADO) 2020, the ADB annual flagship economic publication. Read more
ADB is supporting its developing members in responding to the COVID-19 outbreak through finance, knowledge, and partnerships.
Recognizing the urgency of the global coronavirus pandemic, ADB President Masatsugu Asakawa introduces ADB’s new $6.5 billion assistance package for its developing members.
Achieve a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining our efforts to eradicate extreme poverty.
ADB’s headquarters has been closed since 12 March, with most staff now working from home. ADB’s response to the COVID-19 crisis has been swift and we remain ahead of the curve.
Bank-held nonperforming loans in some Asian economies have risen in recent years. Policy makers should address this growing risk now.
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