ADBI-ERIA-OECD Seminar: The Role of Public Finance in Asian Infrastructure Development

Event | 25 April 2016
ADBI, Tokyo, Japan

Purpose

This policy dialogue will bring together experts to exchange views on the roles and challenges of public finance for infrastructure development, including issues related to the allocation of responsibilities between public and private sectors, experiences of developed countries, and current efforts in Asian emerging countries to promote infrastructure for development.

Background

Infrastructure is critical to sustain economic growth and productivity. Evidence suggests that the quality of infrastructure affects the quality of life of billions of people: infrastructure projects boost firm productivity and household income. Despite its economic contribution, infrastructure investment lags, particularly in developing countries with significant gaps in financing infrastructure. An ADB-ADBI study estimates that Asia and the Pacific need US$750 billion financing each year to meet the region’s infrastructure needs up to 2020.

Closing the financing gaps by meeting current and future infrastructure needs remains an important challenge for many Asian emerging markets. Much effort has been made to invite private investment and promote public–private partnership, but little attention has been paid to public financing, which should lead to greater infrastructure development along with private sector investment. Thus, this seminar will explain issues related to public financing for infrastructure and long-term infrastructure investment using local Asian currencies. It will examine the impediments and challenges in public finance (e.g., governance issues), as well as consider additional sources of public finance (e.g., tax revenues, government debt financing and fiscal loan mechanisms, international aid, etc.), to promote greater infrastructure investment in emerging Asia.

Objectives

The policy dialogue aims to gather policy makers, academics, and practitioners to exchange views and perspectives on the role of public finance in infrastructure development and financial reform in developing countries in Asia. The seminar will draw on the experiences of emerging economies such as Viet Nam, Malaysia, Thailand, and the Philippines in spearheading infrastructure development, and suggest potential challenges and opportunities for other developing economies in the region.

Participants

20 high-level officials, at least 1 per developing member country, from government ministries, and international organizations, with relevant expertise in infrastructure development policy making.

Participant responsibilities

Participate actively in discussions, share views and experiences, engage in networking, and collaborate to strategize new approaches and promote greater understanding.

Output

  • Better understanding and greater capacity of developing member countries to tackle the shared challenges posed by managing public finance for infrastructure development
  • Enhanced dialogue and networking among government agencies, international organizations, and the private sector, to encourage them to work together in building a more resilient and integrated approach to public finance and infrastructure development
  • Promotion of feasible policies using both traditional and alternative sources of public financing for infrastructure development

How to register

By invitation only.

Language

English

Partners

OECD, Economic Research Institute for ASEAN and East Asia

Time of event

9:20 - 18:15