Virus restrictions threaten Asian economic recovery in 2021, ADB says
Coronavirus-ravaged economies across the Asia Pacific will make a "swoosh-shaped" recovery next year, the Asian Development Bank forecast Tuesday, but it warned that further restrictions to combat the contagion could derail the region's return to growth. Developing Asia — stretching from the Cook Islands in ...
Japan to offer Bangladesh loans worth ¥338 billion for infrastructure
The Japanese government said Wednesday it will extend loans totaling up to ¥338.25 billion ($3.17 billion) to Bangladesh for seven projects, most of which will be building infrastructure to support its economic growth. Of the total, Japan will offer as much as ¥89.02 billion for ...
Japan extends ¥50 billion loan to Philippines to fight COVID-19 outbreak
Japan and the Philippines signed Wednesday a ¥50 billion ($465 million) loan agreement to help fund the Southeast Asian nation's coronavirus response. "This ¥50 billion loan seeks to help curtail the spread of COVID-19 in the Philippines and shore up the government's emergency response and ...
Japan former top currency diplomat Asakawa takes office as ADB chief
Former Vice Finance Minister for International Affairs Masatsugu Asakawa took office Friday as president of the Asian Development Bank, the Manila-based organization said. Japan's former top currency diplomat succeeded Takehiko Nakao, 63, who led the ADB since April 2013 until he stepped down Thursday. Asakawa's ...
ADB inks $50 million satellite deal backed by Japan to spread internet use in Asia-Pacific
The Asian Development Bank has signed a $50 million loan agreement to spur internet use in the Asia-Pacific region, with half the financing coming from a fund supported by the Japan International Cooperation Agency. The project will extend low-cost, high-speed internet availability through a communications ...
Former top Japan currency envoy Masatsugu Asakawa to lead Asian Development Bank
Former Vice Finance Minister for International Affairs Masatsugu Asakawa has been selected as the new president of the Asian Development Bank, the organization said Monday. On Jan. 17, the former top currency diplomat will succeed Takehiko Nakao, who has led the ADB since April 2013. ...
Japan eyes ex-top currency diplomat Masatsugu Asakawa as next head of ADB
The government has decided to recommend former vice finance minister for international affairs Masatsugu Asakawa as the next chief of the Asian Development Bank by the end of this year, according to sources. The top ADB post has been held by Japanese since the launch ...
Japan calls on Asian Development Bank to reduce loans to China
Finance Minister Taro Aso called on the Asian Development Bank on Saturday to scale back easy money to countries like China that have developed to the point of no longer needing financial aid. "ADB should hold substantive discussions on a concrete path toward graduation while ...
Asian Development Bank sees growth in continent's developing countries slowing to 5.7% in 2019
The Asian Development Bank said Wednesday that growth in developing Asia will slow to 5.7 percent this year, down from 5.9 percent in 2018, due to slowing global demand and persistent trade tensions. In its Asian Development Outlook 2019 report, the bank said growth in ...
Japan would consider joining China-led AIIB if doubts are dispelled, Abe says
Prime Minister Shinzo Abe said Monday he could be open to joining the China-led Asian Infrastructure Investment Bank if questions surrounding its projects' environmental impacts and other issues are resolved. Abe made the remark following China's hosting of a two-day international forum on the "One ...
China-led AIIB head Jin sees opportunities for cooperation with ADB
The new China-led Asian Infrastructure Investment Bank is not competing with the long-established Asian Development Bank backed by Japan and the United States, the Beijing-based bank's leader said Thursday. Instead, the two complement each other and enjoy "very good cooperation," the Beijing-based bank's leader Jin ...
BOJ chief Kuroda jokes that former job at ADB was more exciting
Haruhiko Kuroda joked that his previous role running the Asian Development Bank was more exciting than the assignment he's taken on as governor of the Bank of Japan. Kuroda, who's spearheaded massive monetary stimulus in Japan for more than four years but still faces an ...
