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AKARTA: The Asia-Pacific region needs the political will to advance public-private partnerships (PPP) to support US$8 trillion in infrastructure needs over the next decade, an Asian Development Bank (ADB) study concludes.

“Public financiers like ADB must undergo a complete change of mind-set and shift their focus from sovereign projects to PPPs,” Woochong Um, deputy director general of ADB’s regional and sustainable development department unit, said as quoted in a statement from ADB.

The 2011 Infrascope report released by the Manila-based financier used a benchmark index system to rank 11 developing nations in the region for their readiness and capacity to carry out sustainable, long term PPP projects.

South Korea, India and Japan were the top performing countries in the Asia-Pacific region, reflecting their robust institutional and regulatory frameworks, according to an ADB press statement. Vietnam, Mongolia and Papua New Guinea were at the lower end of the index, due to a lack of experience with PPPs.

“However the study found that they, and other emerging economies such as Pakistan, Bangladesh, Kazakhstan, Thailand, Indonesia and the Philippines, are moving swiftly to put in place the necessary laws and structures to attract more private investment,” the statement said.