Tags: AS | Asia | Infrastructure

ADB Says Asia Needs to Double Infrastructure Spending

Monday, 27 February 2017 09:07 PM

MANILA, Philippines (AP) — The Asian Development Bank says developing countries in Asia and the Pacific will need to invest up to $1.7 trillion a year, or $26 trillion through 2030, to meet their infrastructure needs and to maintain the region's growth momentum — more than double the previous estimate in 2009.

The Manila-based bank's report covering 45 countries says despite dramatic growth in infrastructure development that has spurred an economic rise, reduced poverty and improved people's lives, a substantial infrastructure gap remains. Over 400 million people still lack electricity, 300 million have no access to safe drinking water and about 1.5 billion lack basic sanitation.

The report released Tuesday said that many economies in the region lack adequate ports, railways and roads to better connect them to larger domestic and global markets.

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The Asian Development Bank says developing countries in Asia and the Pacific will need to invest up to $1.7 trillion a year, or $26 trillion through 2030, to meet their infrastructure needs and to maintain the region's growth momentum - more than double the previous...
AS,Asia,Infrastructure
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2017-07-27
Monday, 27 February 2017 09:07 PM
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