Banking
Southeast Asia launches $1 billion facility for green infrastructure
CHIANG RAI, Thailand (Reuters) – The Association of Southeast Asian Nations (ASEAN), the Asian Development Bank (ADB) and major financiers on Thursday launched a facility to spur more than $1 billion in green infrastructure investments across Southeast Asia.
The facility offers loans and technical assistance for sovereign projects in areas such as sustainable transport and clean energy, the ADB said during the meetings of ASEAN’s finance ministers and central bank governors.
“Through the ASEAN Catalytic Green Finance Facility, ADB will support ASEAN governments in developing green and climate-friendly infrastructure projects,” ADB President Takehiko Nakao said in a statement.
It will mobilise a total of $1 billion, including $75 million from the ASEAN Infrastructure Fund (AIF), $300 million from the ADB, $336 million from KfW, 150 million euros from the European Investment Bank, and 1 million euros from Agence Francaise de Development.
It is part of a new “Green and Inclusive Infrastructure Window” under the AlF, a regional financing initiative established by ASEAN governments and the ADB in 2011.
Since then, the AlF has committed $520 million for regional energy, transport, water and urban infrastructure projects.
ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
Economics
China’s new three-child policy highlights risks of aging across emerging Asia
Thailand’s (Baa1 stable) total dependency ratio is set to jump nine percentage points to 51% by 2030 – a faster increase than China’s – which will pressure public and private savings through higher taxes and social spending, reducing innovation and productivity gains.
Population aging in China (A1 stable) and other emerging markets in Asia will hurt economic growth, competitiveness and fiscal revenue, unless productivity gains accelerate, according to a new report by Moody’s Investors Service.
(more…)News
Climate change raises asset risks for banks in Asia-Pacific
Climate change and related government policies raise asset risks for banks in Asia-Pacific, while legal and reputational risks are growing while large, diversified banks in the region are better able to cope with these risks and preserve their credit strength
Climate change and related government policies expose Asia-Pacific banks to physical climate risks, as well as risks that stem from sudden changes in asset values as economic priorities shift, according to Moody’s Investors Service in a new report.
(more…)
Thailand’s Consumer Confidence Hits new Record Low in May
The University of the Thai Chamber of Commerce (UTCC) has reported that Thailand's Consumer Confidence Index (CCI) for May fell...
The future of rail travel in Thailand
Hua Lamphong is, for many people, a beloved representation of rail travel in Thailand. However, there is a significant upgrade...
Thailand Calls for Lifting of Intellectual Property Protection on COVID-19 Vaccines
Thailand will push for COVID-19 vaccines to be removed from intellectual property protection lists, as per the Trade-Related Aspects of...
China’s new three-child policy highlights risks of aging across emerging Asia
Thailand's (Baa1 stable) total dependency ratio is set to jump nine percentage points to 51% by 2030 – a faster...
Thailand gains 1.2bn baht revenue from international film productions
During the four-month period, 31 production crews came to Thailand to shoot films, generating 1.212 billion baht revenue for Thailand....