The Hong Kong-Zhuhai-Macau Bridge under construction. (Photo: European Pressphoto Agency)Hanoi (VNA) – Asiaand the Pacific will need 1.7 trillion USD per year from now to 2030 fordeveloping infrastructure, including climate change mitigation and adaptationcosts, the Asian Development Bank (ADB) said in a new flag ship report releasedon February 28 in Manila.
Theinvestment is necessary for the region to maintain growth momentum, accordingto the Meeting Asia’s Infrastructure Needs report, which focuses on theregion’s power, transport, telecommunications, and water and sanitationinfrastructure. It comprehensively examines current infrastructure stocks andinvestments, future investment needs, and financing mechanisms for developingAsia.
“The demand for infrastructure across Asia and the Pacificfar outstrips current supply,” said ADB President Takehiko Nakao. “Asia needsnew and upgraded infrastructure that will set the standard for quality,encourage economic growth, and respond to the pressing global challenge that isclimate change.”
Thereport noted that while infrastructure development in the 45countries covered in the report has grown dramatically in recent decades, asubstantial infrastructure gap remains, with over 400 million people stilllacking electricity, 300 million without access to safe drinking water, andabout 1.5 billion lacking access to basic sanitation. Many economies in theregion lack adequate ports, railways, and roads that could connect themefficiently to larger domestic and global markets.
ADB President Takehiko Nakao reiterated the ADB’s pledge towork with member countries and use the bank’s 50 years of experience andexpertise to meet infrastructure needs in the region.-VNA
Theinvestment is necessary for the region to maintain growth momentum, accordingto the Meeting Asia’s Infrastructure Needs report, which focuses on theregion’s power, transport, telecommunications, and water and sanitationinfrastructure. It comprehensively examines current infrastructure stocks andinvestments, future investment needs, and financing mechanisms for developingAsia.
“The demand for infrastructure across Asia and the Pacificfar outstrips current supply,” said ADB President Takehiko Nakao. “Asia needsnew and upgraded infrastructure that will set the standard for quality,encourage economic growth, and respond to the pressing global challenge that isclimate change.”
Thereport noted that while infrastructure development in the 45countries covered in the report has grown dramatically in recent decades, asubstantial infrastructure gap remains, with over 400 million people stilllacking electricity, 300 million without access to safe drinking water, andabout 1.5 billion lacking access to basic sanitation. Many economies in theregion lack adequate ports, railways, and roads that could connect themefficiently to larger domestic and global markets.
ADB President Takehiko Nakao reiterated the ADB’s pledge towork with member countries and use the bank’s 50 years of experience andexpertise to meet infrastructure needs in the region.-VNA
VNA
