ADB boosts support for region
In prioritising Southeast Asia in its assistance, the multilateral lender would get involved in many operations in the region, said Ramesh Subramaniam, the director general of the bank’s Southeast Asia department.
Subramaniam told the ADB annual meeting yesterday that the development lender would invest around US$5 billion in its sovereign operations in the region every year, leveraging an additional $1 billion from development partners including the World Bank, Germany’s KfW and AFD, Britain’s Department for International Development, the Japan International Cooperation Agency and the Asean Infrastructure Fund.
Khine Kyaw
