Suchergebnisse

Over the past decade, Sri Lanka has made rapid strides toward its development goals, halving its poverty rate to low single digits and improving human development. While the country now stands close to reaching upper-middle income status, it needs to foster more inclusive and sustainable momentum for economic growth. In 2018, Sri Lanka's economic growth remained subdued as it faced challenges stemming from domestic and external factors. Since 1966, the Asian Development Bank (ADB) has been a strong partner in the development of Sri Lanka, signing loans, grants, and technical assistance totaling $9.7 billion, and making ADB the country's largest source of multilateral development assistance. Cumulative loan and grant disbursements to Sri Lanka amount to $6.8 billion. These were financed by regular and concessional ordinary capital resources (OCR), the Asian Development Fund, and other special funds. From 1 January 2019, Sri Lanka can borrow only from ADB's regular OCR window.

Indonesia was a founding member of the Asian Development Bank (ADB) in 1966, and today it is among the bank's largest shareholders and sovereign borrowers. The country has made remarkable progress in its social and economic development in the past few decades. Since the 1998 Asian financial crisis, its economy has grown tenfold and per capita income eightfold. Indonesia reached middle-income status in 2004 and became a G20 member in 2008. Poverty levels fell to single-digit levels for the first time in 2018.

Following a hiatus from 1980 to 2001, the Asian Development Bank (ADB)—in collaboration with other development partners—is supporting Afghanistan's national development strategies and priority programs to establish a stronger foundation for sustainable economic growth and poverty reduction. Despite marked improvements since the resumption of operations in 2002, Afghanistan still faces a severe infrastructure deficit. Under the country partnership strategy, 2017–2021, and the country operations business plan, 2019–2021, ADB continues to focus on developing infrastructure, reducing poverty, and stimulating growth. The bank directs its financial assistance mainly to improvements in agriculture and natural resources, energy, and transport. Afghanistan was a founding member of ADB in 1966 and has since been supported by the bank over two periods. Cumulative lending to Afghanistan totals almost $963.1 million and committed grants total $3.6 billion. Cumulative loan and grant disbursements to Afghanistan amount to $2.32 billion. These were financed by regular and concessional ordinary capital resources, and the Asian Development Fund.

Azerbaijan joined the Asian Development Bank (ADB) in 1999. ADB operations in Azerbaijan was guided by the country partnership strategy (CPS), 2014–2018, which supported the diversification of Azerbaijan's economy, fostering of new economic opportunities, promotion of inclusive growth, and reduction of disparities between urban and rural areas. A country diagnostic study conducted in 2018 identified short-, medium-, and long-term growth constraints faced by Azerbaijan, and suggested priority reforms to address such constraints. The next CPS for Azerbaijan (2019–2023) has been prepared for endorsement in 2019. It will support acceleration of economic diversification and inclusive growth through the implementation of three pillars: (i) boosting private sector development, (ii) raising public sector efficiency, and (iii) improving infrastructure and strengthening human capital.

Bangladesh has more than halved its incidence of poverty over the past 25 years. The country gained lower-middle income status in 2015 and met the criteria to graduate from least developed country status in March 2018. Its economic growth has been robust over the past decade and reached 7.9% in the fiscal year that ended on 30 June 2018—the highest rate of economic expansion in the country's history (for the second year running). The Asian Development Bank (ADB) has been a development partner of Bangladesh since 1973 and established its first field office in Dhaka in 1982. Since 1973, ADB has committed a total of $22.9 billion for 282 loans, $269.18 million for 429 technical assistance projects, and $931.5 million for 44 grant projects. The country is a major recipient of ADB concessional resources. In 2018, ADB committed its highest level of support to Bangladesh yet, with eight sovereign projects totaling $2.1 billion in loans and grants, $16.5 million in technical assistance, and $1.9 billion mobilized in cofinancing.

Bhutan is one of the fastest-growing economies in South Asia. Economic growth has averaged 7.5% a year over the past 3 decades and the country's poverty rate was cut more than half in a decade, falling from 23% in 2007 to 8.2% in 2017. Yet, the challenge remains for Bhutan to expand its economic base and make growth more inclusive, especially for unemployed youth and women. Developing a vibrant private sector is key to diversifying Bhutan's economy, generating a more broad-based growth, and creating sustainable jobs. Since 1982, the Asian Development Bank (ADB) has supported Bhutan through various programs, mainly in energy, transport, finance, and urban development. ADB has committed loans totaling $534.06 million, grants of $269.22 million, and technical assistance of $53.75 million for the country.

Over the past 20 years, Cambodia has achieved remarkable economic development, enjoying an average annual growth rate of 7.7%. This sustained economic progress saw the country attain middle-income status in July 2016. It also helped reduce Cambodia's poverty rate from 47.8% in 2007 to 13.5% in 2014, although more than 70% of Cambodians still live on less than $3.20 a day.

The Cook Islands consists of 15 small islands scattered over 1.8 million square kilometers in the South Pacific. The country's economy is small, narrowly based, and vulnerable to external shocks. Tourism accounts for around 60% of gross domestic product, followed by offshore banking, fishing, and agriculture. The Cook Islands is a self-governing country in free association with New Zealand. Its nationals are New Zealand citizens, with open access to work and reside in New Zealand and—under various reciprocal entry agreements—in Australia. Emigration from the Cook Islands has contributed to a declining population and a shortage of skilled workers.

Fiji has one of the most developed economies in the Pacific, with tourism as its main driver of economic activity and foreign direct investment. In 2018, more than 870,000 people visited Fiji, a growth rate of 3.3% on the 2017 numbers. The country has also seen a shift in exports from agricultural commodities to manufactured goods.

In just a few decades, India has risen to become the world's third-largest economy (in purchasing power parity terms) and now accounts for nearly 6% of global gross domestic product. Strong economic growth and economic reforms have helped the country reduce its incidence of poverty by more than half since 2004. India was a founding member of the Asian Development Bank (ADB) in 1966 and is now the bank's fourth largest shareholder and top borrower.

In recent years, the Government of the Kyrgyz Republic has maintained a strong development agenda to reduce poverty through inclusive economic growth. With the support of the Asian Development Bank (ADB), the government has sought to reform legal and regulatory frameworks, improve the country's business environment, make affordable finance available to all, improve the reliability of electricity services, and help Kyrgyz Republic citizens become more employable.

Driven by construction associated with large, donor-financed investments and by strong revenues from fishing licenses, Kiribati has enjoyed sustained economic growth in recent years. The country's economy is, however, highly vulnerable to external shocks and income volatility. It is highly exposed to extreme weather events and the impacts of climate change, and is dependent on imports and nontax revenues. Sources of external revenue include foreign aid and investment income from Kiribati's sovereign wealth fund, the Revenue Equalization Reserve Fund. Private sector development is constrained by the size and scale of the economy, the high costs of doing business, and the country's widely dispersed population.

The economy of the Lao People's Democratic Republic (Lao PDR) has grown by an average of more than 7% per annum over the past 5 years, however, much work remains to resolve the country's development challenges. Under its Eighth National Socioeconomic Development Plan, 2016–2020, the Lao PDR is aiming for inclusive economic growth, human resource development, and sustainable natural resource management to graduate from least-developed country status in 2024. While the Lao PDR is rich in natural resources and has dynamic mining and hydropower industries, economic diversification is needed to expand private sector investment, generate employment in services and industry, and promote regional cooperation and integration. As for macroeconomic management, the Government of the Lao PDR has made efforts to contain the growing fiscal deficit and the increasing public debt by enacting the Public Debt Management Law in August 2018. Further steps are needed to reduce the fiscal deficit and improve the country's public debt sustainability from its current distress situation.

Malaysia has transformed itself from a nation reliant on natural resources into a middle-income country in which services account for half of total output. However, as an open and trade-reliant economy, Malaysia remains vulnerable to international developments. Keeping a sound current account and fiscal consolidation are medium-term challenges, with the Government of Malaysia continuing efforts to boost domestic demand and investments. The government, elected in May 2018, has also announced new directions toward economic restructuring and enhanced productivity.

Comprising around 1,190 small islands in the Indian Ocean, Maldives is home to around 436,330 people in 2017, and famous for some of the world's most beautiful beaches. High-end tourism has propelled the country's strong economic expansion over recent decades. This has helped Maldives gain middle-income status with the highest per capita income in South Asia. However, as a relatively small island economy, the country is extremely vulnerable to external economic shocks and the negative impacts of climate change.