The Asian Development Bank (ADB) forecasts that economic expansion in developing Asia will accelerate to 6% in 2017 as stronger than expected exports and domestic consumption fuel growth. Excluding Asia’s newly industrialized economies, growth is now expected at 6.5% this year, according to a new ADB report.
Stronger domestic demand, robust export-oriented manufacturing, and a gradual recovery of the agriculture sector, are driving Vietnam’s economy, which expanded by 6.4 percent during the first nine months of the year compared to the same period last year, says a new World Bank report. The manufacturing and services sector respectively grew by 12.8 percent and 7.3 percent during the same period.
The Asian Development Bank (ADB) has approved $750,000 to Indonesia to provide knowledge support and technical assistance to study the impact of disruptive technologies on the Indonesia economy.
Asian Development Bank (ADB) President Takehiko Nakao has called for increased efforts from ADB staff, member governments, and other development partners to help fight corruption, money laundering, and other illicit activities that derail economic development and the achievement of social equity in the Asia and Pacific region.
The OSCE and the European Bank for Reconstruction and Development (EBRD) agreed today in Vienna to deepen their co-operation and establish a strategic partnership to promote good governance, connectivity and economic development.
The Asian Development Bank (ADB) has approved the 2018-2020 Country Operations Business Plan for the Philippines to help the government build infrastructure, create jobs, reduce income and regional disparities, and strengthen disaster resilience.
Weak productivity growth is a major problem afflicting most societies. It curbs growth in incomes and endangers the sustainability of social security systems. An important, but often ignored, source of the productivity slowdown is the increasing prevalence of weakly productive firms and, among them, “zombie firms” – in essence firms that would typically exit or be forced to restructure in a competitive market.
The Asian Development Bank’s (ADB) Board of Directors has approved $250 million in policy-based loans to support the Government of Azerbaijan in its efforts to strengthen governance in the public sector and diversify the economy through greater private sector participation.