Asian Development Bank Current Affairs
South Asian Regional Conference on Urban Infrastructure: New Approaches to Public and Private Partnerships (PPPs) and Municipal Finance Innovations was held in New Delhi. It was organised by National Institution for Transforming India (NITI) Aayog in partnership with United Nations Economic and Social Commission for Asia and Pacific (UNESCAP) and Asian Development Bank (ADB).
South Asian Regional Conference on Urban Infrastructure
The main objective of the two day conference was to discuss the key issues, perspectives and way forward in the Urban Infrastructure. It was aimed to review overall issues and assess sustainability of PPPs and urban finance in South Asia, specifically India and broadening knowledge base and engaging on international best practices.
It is first of its kind conference which saw participation of leaders from government, industry, research organisations, academia, think tanks and civil society from across South Asian region. The main components of conference included keynote and breakout sessions, panel discussions, presentation and a variety of stakeholder consultations.
National Institution for Transforming India (NITI) Aayog
NITI Aayog is the premier policy ‘Think Tank’ of the Union Government, providing both directional and policy inputs. It is essentially an advisory body that seeks to provide critical directional and strategic inputs across spectrum of key elements of policy to the centre.
It was established in 2015 with aim to achieve Sustainable Development Goals and to enhance cooperative federalism by fostering the involvement of State Governments of India in the economic policy-making process using a bottom-up approach. It had replaced Planning Commission which followed a top-down model.
Prime Minister is ex-officio chairman of NITI Aayog. The permanent members of its governing council are all the state Chief Ministers, along with Chief Ministers of Delhi and Puducherry, Lieutenant Governor of Andaman and Nicobar, and vice chairman nominated by the Prime Minister.
The Asian Economic Integration Report 2018 was presented by Asian Development Bank. The report is an annual publication of ADB with a focus on progress in cooperation and migration.
Key highlights of the report
- The report revealed that India hosts the highest number of outward international migrants in 2017.It was followed by China and Bangladesh.
- About one third of international migrants were from Asia in 2017.
- The number of Asian migrants headed to regional destinations declined shortly.
- FDI in the Asian region remain stable with 517.5 billion in 2017.
- Asia’s share of global inward foreign FDI reach up to 36.2 percent in 2017.
- Labor demand is the main factor behind the international migration on such a large scale. 72.7 percent of the migrants enter the labor market in host countries.
- This year in the report there was a special chapter “Toward Optimal Provision of Regional Public Goods in Asia and the Pacific”. The chapter stressed on that the optimal provision of Regional public goods can be a solution for development challenges in the era of economic interdependence.
- Regional public goods are those are produced and collectively consumed by a public sector or by both private and public sector as appropriate and have potential to generate shared benefits among the countries. These includes climate change, anti corruption, good governance, human development, cross border infrastructure, cross border disease surveillance, and all other goods that have benefits beyond a single territory.
The Asian Development Bank is a regional development Bank established in 1966 with Headquarters in Manila, Philippines. The bank is composed of 67 members out of which 48 are from Asia Pacific region. Takehiko Nakao is Present President of the Asian Development Bank. The bank helps its member countries by providing loans, grants and technical assistance to enable social and economic development and to eradicate poverty.