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The Latest Breaking News from ADB

ADB Acting On US Concerns Over China, Bank Chief Tells AFP

The Asian Development Bank was trying "very hard" to accommodate US concerns over lending to China, the bank's president told AFP, including by slashing loans to the world's second-largest economy.

International Business Times

‘It’s not Chinese assistance’: Australia accuses China of taking undue credit for aid projects in the Pacific

Minister Pat Conroy says Chinese ‘branding’ of multilateral development projects to bolster its influence in the region is a consistent frustration

The Guardian - AU

Why is the Asian Infrastructure Investment Bank regionally significant?

The Asian Infrastructure Investment Bank (AIIB) is holding its 10th Annual Meeting of Board of Governors from June 24 to 26 in Beijing.

Euronews

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Economic growth to moderate in the Pacific: report

Fresh economic forecasts for the Pacific show the blue continent can expect moderating growth in the next two years.

AAP

Asian countries riven by war and disaster face some of steepest Trump tariffs

Myanmar, Cambodia and Laos hit with rates over 40% as experts say the real target is China

The Guardian - AU

ADB to provide 3 mln USD for earthquake relief in Myanmar

The ADB said the earthquake has intensified Myanmar's ongoing humanitarian crisis, adding urgency to the existing challenges faced by the people. Read further on Dynamite News:

Dynamite News

How Rivian Beat Everyone to Better Headlights

For well over a decade, drivers around the world have enjoyed better headlights. Adaptive Drive Beam (ADB) moves beyond the old-school binary of high and low beams, taking advantage of modern lighting technology that allows parts of a headlight’s beam to dim for oncoming drivers, reducing glare. In America, the…

Motor1

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Debt-saddled Laos Struggles To Tame Rampant Inflation

Suffocating under a mountain of debt to China, communist Laos is struggling to tame rampant inflation, with food prices rising so sharply that a growing number of households are resorting to foraging.

International Business Times

Asian Development Bank raises growth forecast for region, but warns of risks from trade sanctions

The Asian Development Bank says it expects developing economies in the region to grow at a 5% annual pace this year, up slightly from its earlier estimate of 4.9% growth

The Independent UK

Energy summit seeks to curb cooking habits that kill millions every year

Harmful cooking practices result in the deaths of 3.7 million people every year with children and women most at risk.

Al Jazeera

NGOs Accuse ADB Of Funding Indonesia Coal Plants Despite Clean Energy Promises

Green NGOs have accused the Asian Development Bank of indirectly financing coal plants in Indonesia through a $600 million loan despite promises to no longer fund projects tied to the fossil fuel, according to a new report.

International Business Times

Risky premise: On Asian Development Bank forecast, India’s GDP growth

The ADB’s latest growth forecast for India’s GDP is slower than the 7.6% pace that India’s National Statistical Office has estimated for the 12 months that ended on March 31

The Hindu

China's Realistic GDP Target Despite Challenges, ADB Reports

The Asian Development Bank assesses China's GDP target as realistic and achievable amidst challenges.

Top News

'Resilient' Africa Set For Growth Rebound: ADB

Africa saw the pace of economic growth sag last year as inflation continued to rise but is set to rebound this year, the African Development Bank said Friday.

International Business Times

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The Guardian - AU

‘First line of defence’: mangroves – and mitigation - lost in Fiji’s tourism development

Mangroves, vital in protecting villages from environmental disasters, have been destroyed to build luxury hotels

The Independent UK

Asian Development Bank approves a $200M loan to debt-stricken Sri Lanka

The Asian Development Bank says it approved $200-million concessional loan to debt-stricken Sri Lanka to help stabilize the country’s finance sector

France 24

Smog obscures Dubai skyline on 'Health' day at COP28 climate summit

Dubai's glitzy skyline was obscured by a blanket of smog rated as "unhealthy" on Sunday as thousands of delegates attended the fourth day of the COP28 summit, which was designated as "health" day and where topics of discussion include air quality and the unhealthy affects of climate change.

The Hindu

₹3.32 crore ADB grant for safe public transport travel in Hyderabad

Team of tech experts from BITS Hyderabad, IIT Mumbai & Kharagpur, led by Prof. Prasanta Sahu, wins ADB grant of US$3.99 lakh to develop TUTEM tech for urban transit. Aim: enhance last-mile security for metro rail passengers & make Hyderabad a safe city. Police & metro rail authorities working together…

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The Guardian - AU

Australia tells big development banks to ‘lift their game’ in the Pacific

There are concerns the World Bank and ADB are giving contracts to low-price bidders who then demand more when budgets blow out

The Hindu

India, Asian Development Bank to set up climate change and health hub in Delhi

India to open climate change & health hub in Delhi in partnership with ADB. WHO Centre for Global Traditional Medicine in Gujarat to provide leadership on global health matters.

Al Jazeera

Asia’s poor grew by 68 million people after pandemic, report says

More than 155 million people were living on less than $2.15 a day last year, Asian Development Bank says.

The Hindu

ADB retains India's growth forecast at 6.4% for current fiscal

ADB retains India's growth forecast at 6.4% for FY22-23 and 6.7% for FY23-24. Inflation expected to decline to pre-pandemic levels. Domestic demand and services driving growth, while industrial activity and exports remain weak. Global outlook for next year has worsened.

Bangkok Post

Invest in quality infrastructure

Covid-19 has brought severe hardships to countless people and communities across the globe, but for the economies of the Association of Southeast Asian Nations, a resilient recovery is underway.

The Hindu

Need robust ADB that adopts transformational approach for regional development: Finance Minister

FM Nirmala Sitharaman stressed on the need for a robust ADB that adopts a transformational rather than incremental approach

Bangkok Post

Agencies predict economic uptick

Prime Minister Prayut Chan-o-cha is feeling upbeat regarding Thailand's economic recovery, citing the forecasts of several reputable economic agencies including the Asian Development Bank (ADB) and Japan Center for Economic Research (JCER) that anticipate a rebound in 2023 and 2024.

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