Infrastructure is essential for development. Roads, railways, ports and power supplies have helped drive Asia’s growth, allowing its people to get to work and its products to reach markets.
For this momentum to continue, the region’s existing stock of infrastructure must be upgraded. A new generation of transport networks, energy facilities, and water and sanitation systems must be built.
The demand for infrastructure across Asia and the Pacific far outstrips current supply, according to a recent ADB report, Meeting Asia’s Infrastructure Needs. More than US$26 trillion will be needed between 2016 and 2030, or $1.7 trillion a year, to deliver infrastructure that supports robust growth and is resilient to climate change. That’s double the amount spent annually at present.<...
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