The president of the Asian Development Bank said that the bank will focus more on cleaner technology and quality infrastructure to meet steeply increasing infrastructure needs in Asia, a move that could potentially help Japanese companies invest more in Asian infrastructure, while working in tandem with multilateral banks such as the Chinese-led Asian Infrastructure Investment Bank (AIIB).
"The ADB and other multilateral banks, including the World Bank and the newly established AIIB, should strengthen its support," said ADB President Takehiko Nakao in an interview with The Japan Times. "But of course, very important parts should come from the private sector."
Nakao's comments come amid an increasing need for sophisticated infrastructure in Asia that accounts for 60 percent of global economic growth.