The President of the Asian Development Bank (ADB), Takehiko Nakao on Friday met with President of Indonesia Joko Widodo and discussed areas of future cooperation. At the meeting, Nakao announced that ADB will boost lending to the country from $740 million annually from 2010 to 2014, to as much as $2 billion a year, or $10 billion over the next 5 years, using its expanded lending capacity.
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Nakao’s new term will begin on Novermber 24. He was first elected as president in April 28, 2013 to serve the three and a half years remaining of the term of his predecessor, Haruhiko Kuroda.
Asian Development Bank (ADB) recorded private sector investments of up to $2.6 billion in 2015 with over 40 per cent of transactions were in “frontier economies” or lower-middle-income and low-income countries, but excluding India.
The program is expected to help Pakistan roll out major structural reforms to improve the performance and financial sustainability of its public sector enterprises.
The investment also supports ADB’s strategy of step up financing for renewable energy and increase support for private investment in the sector.
“The danger is that new PE players with either little understanding of frontier markets or Myanmar will wave larger cheque books around. We know from other markets this can lead to unsustainable valuations and unhappiness when things don’t work out as everyone hoped”
Philippine-based Asian Development Bank (ADB) and the Sri Lanka Ports Authority (SLPA) signed on Tuesday a transaction advisory services agreement for the development of a $500 million port project.
Manila-based Asian Development Bank (ADB) has appointed two new vice presidents, Diwakar Gupta for private sector and co-financing operations, and Bambang Susantono for knowledge management and sustainable development. Gupta who replaces Lakshmi Venkatachalam, is a former managing director and chief financial officer of the State Bank of India, where he… Read more »
The winners were Cleverheat, a solar-powered refrigeration system; HiGi, makers of environment-friendly briquettes for cooking; and Solar Sari-Sari Store, portable solar energy stations for lighting, water purification, mobile phone charging, and refrigeration.
The figure, a record high, rose by about $1 billion compared with the previous fiscal year, fuelled by investment in the energy, manufacturing and telecoms sectors.