COVID-19 Pushed 4.7 Million More People in SouthEast Asia into Extreme Poverty in 2021
The Omicron wave could cut the region’s economic growth by as much as 0.8 percentage points in 2022, says the report, Southeast Asia: Rising from the Pandemic.
ADB Invests in Tropical Asia Forest Fund 2 to Promote Sustainable Forestry, Enhance Biodiversity
The investment comprises $5 million from ADB’s ordinary capital resources and $10 million from the Australian Climate Finance Partnership (ACFP) trust fund.
Trade Integration Deepens in Asia and the Pacific Amid Pandemic
Asia and the Pacific’s trade grew 29.6% in the first 3 quarters of 2021, compared with global trade growth of 27.8%. Trade within the region rebounded 31.2% during the same period, following a 3.1% contraction in 2020.
ADB to Develop Prototype for Cross-Border Securities Transaction System Using Blockchain
Cross-border securities transactions in the ASEAN+3 region are currently processed through a global network of custodians and correspondent banks, which go through global centers in either the United States or Europe.
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