In the Spotlight
ADB has played an important role in the transformation of Asia and the Pacific over the past 50 years. As ADB continues to evolve and adapt to the region’s changing development landscape, the experiences highlighted in this book can provide valuable insight on how best to serve Asia and the Pacific in the future.
ADB operations in 2016 exceeded the $30 billion mark for the first time as regional demand for development finance and knowledge continues to grow. While the region’s economic growth and success in reducing poverty have exceeded the most optimistic forecasts, there remain significant challenges to be addressed.
ADB’s flagship annual economic publication forecasts GDP growth in Asia and the Pacific to reach 5.7% in 2017 and 2018, a slight deceleration from the 5.8% registered in 2016. Risks to the outlook include higher US interest rates, which will accelerate capital outflows, although this risk is mitigated to some degree by abundant liquidity throughout the region.
Developing Asia will need to invest $1.7 trillion per year in infrastructure until 2030 to maintain its growth momentum, tackle poverty, and respond to climate change. This report examines how much the region has been investing in infrastructure and what will be needed through 2030. It also outlines the challenges shaping future infrastructure investment and development.