ADB

ADB confident about Myanmar’s economic growth 0

Chairman of Leopard Capital (Marc Faber) is seeking to raise $150 million for two Myanmar-focused funds.Source: Channel NewsAsia

The Asian Development Bank (ADB) on Wednesday remained bullish on Myanmar’s economic prospects as it believes the country will achieve 6.8 per cent growth in fiscal 2014 compared to 5.5 per cent last year.

The boost will be fuelled by strong export earnings from resources such as gas, hydropower and the boom in tourism. More…

ADB to invest $245m in power sector 0

Asian-development-Bank ADBSource: The News International

The Asian Development Bank (ADB) and the Government of Pakistan on Monday signed an agreement to invest $245 million in the country’s power distribution system, a statement said.

The agreement was signed by Secretary Economic Affairs Division Nargis Sethi and Dr Werner E. Liepach, ADB’s country director for Pakistan. More…

Pakistan to get $12b in next 3 years: Dar 0

Pakistan-flagSource: The Nation

Finance Minister Senator Ishaq Dar on Monday claimed that Pakistan would receive $12b in next three years from different International Financial Institutions (IFIs) in different packages that would help Islamabad in repaying loan to lenders.

Finance Minister expressed hope that Pakistan would not face any problem in repaying previous loans, as country would receive $12 billion from IFIs like International Monetary Fund (IMF), World Bank (WB), Asian Development Bank (ADB), and Islamic Development Bank (IDB) in next three years. “Pakistan held talks with these IFIs during last few weeks”, he added. More…

ADB lends 70 mln USD to Cambodia for rice commercialization, finance reforms 0

CambodiaricefieldSource: The Global Times

The Government of Cambodia and the Asian Development Bank (ADB) on Monday signed loan agreements worth $70 million to expand the country’s rice sector and promote reforms in the finance sector, an ADB’s statement said.

Signed by Cambodian Deputy Prime Minister and Finance Minister Keat Chhon and ADB Country Director Eric Sidgwick, the agreements covered the Climate-Resilient Rice Commercialization Sector Development Program (Rice-SDP) with the loans of $55 million and the Finance Sector Program with the remaining $15 million. More…

Govt, ADB, WB prioritize investment in energy sector 0

At present, the government has put around 52 hydropower projects with total installed capacity of more than 4000 MW in its priority basket.

At present, the government has put around 52 hydropower projects with total installed capacity of more than 4000 MW in its priority basket.

Reposted from Republica

Realizing that acute power shortage is affecting people’s daily life and inflicting huge loss on industrial sector, the government, Asian Development Bank (ADB) and the World Bank (WB) have put investment in hydropower sector in their first priority.

“Investment in hydropower sector is the top priority of the upcoming budget for fiscal year 2013/14,” Finance Minister Shankar Prasad Koirala told Republica about a week ago while interacting with a team of business journalists from Nepal Republic Media. More…

ADB – Asian Development Bank : ADB Announces 3-Year Pipeline of $525 Million to Promote Cambodia’s Growth 0

imagesReposted from 4-traders

PHNOM PENH, CAMBODIA – The Asian Development Bank (ADB) today unveiled its new three-year rolling Country Operations Business Plan (COBP) for 2013-2015, which marks ADB’s strategic focus in Cambodia towards urbanization of secondary towns, urban-rural linkages, economic corridor development, climate change, and private sector development.

More…

ADB loans Bangladesh $300 mn to improve market 0

Asian Development Bank

Asian Development Bank

Reposted from NYDailyNews

The Asian Development Bank (ADB) and Bangladesh Thursday signed an agreement for $300 million loan to help the country stabilise its financial market, making it safer and more attractive to invest.

The assistance will help meet the long-term financing requirements and thereby address the current infrastructure investment gap in Bangladesh, Xinhua quoted the Manila-based lender as saying in a statement.

Iqbal Mahmood, senior secretary of Bangladesh’s Economic Relations Division, and M. Teresa Kho, country director of ADB’s Bangladesh Resident Mission, signed the agreement.

The ADB loan will be used to help the securities regulator, the Securities and Exchange Commission, do a better job of independently overseeing activities, and to set up specialized tribunals to deal with financial cases.

Photo Credit: ADB

Weekend Links: Top Stories from Around the Globe — Oct. 27 & 28, 2012 0

Weekend Links

By Steve Hashim

Each weekend we take a step outside our normal coverage to provide our readers with links to some of the stories we find the most intriguing from around the globe.

Institute of Southeast Asian Studies, “The Great Game, Burma Edition”, Ian Storey

Southeast Asia Realtime, “ADB Targets Crumbling Transport Systems as It Plans Myanmar Return”, Sam Holmes

beyondbrics, “Vietnam gets E&Y seal of approval”, Avantika Chilkoti More…

Weekend Links: Top Stories from Around the Globe — Oct. 27 & 28, 2012 0

Weekend Links

By Steve Hashim

Each weekend we take a step outside our normal coverage to provide our readers with links to some of the stories we find the most intriguing from around the globe.

Institute of Southeast Asian Studies, “The Great Game, Burma Edition”, Ian Storey

Southeast Asia Realtime, “ADB Targets Crumbling Transport Systems as It Plans Myanmar Return”, Sam Holmes

beyondbrics, “Vietnam gets E&Y seal of approval”, Avantika Chilkoti More…

Financing pattern since 2002: ADB funding in hydel sector insignificant 0

ADB initiated only four hydropower projects worth $544.1 million in Pakistan since 2002

Reposted from Business Recorder
By Asma Razaq

The Asian Development Bank’s (ADB) funding in Pakistan’s hydropower sector over the past 10 years is insignificant although it recognises huge investment potential in this sector.

ADB’s website shows that the Bank has initiated only four hydropower projects worth $544.1 million in Pakistan since 2002 although according to one of its report ‘Development Effectiveness Report 2011′, the Bank admitted that Pakistan has an abundance of hydel potential, the development of which has been stalled because of tight fiscal situation and limited domestic and international financing appetite. More…

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