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Asia's Future Challenges and Opportunities: Perspective from the Asian Development Bank- Presentation in Ottawa, Canada- May 2015

by Thierry de Longuemar, Vice President (Finance and Risk Management), Asian Development Bank
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on 28 October 2015

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Transcript of Asia's Future Challenges and Opportunities: Perspective from the Asian Development Bank- Presentation in Ottawa, Canada- May 2015

Asia’s Great Transformation
Promote Resource Efficiency, Energy Diversification, Green Growth
Confronting Disparities
Aging Population
Promote better Education, Entrepreneurship & Innovation in middle income countries
Develop a New Approach to Urbanization
Transforming Finance
Improving Governance
Achieving Food Security
Strengthen Regional Cooperation and Integration
Conclusion
Outline
Overview of ADB
Asia's Great Transformation
A tremendous achievement in just one generation
Japan, PRC, and India: largest economies in the region
Poverty alleviation impact

21st century belongs to Asia
Asia's Share of Global GDP, 1700-2010
GDP of World's Largest Economies, 2014
1.7 billion people live with less than $2 a day
Over 100 million children under 5 are underweight
Asia's Future Challenges and Opportunities:
Perspective from the Asian Development Bank

Promote Resource Efficiency, Energy Diversification, Green Growth: First Challenge
Intensified global competition for resources
Implication for climate change
Diversifying energy resources, particularly renewable energy
Promoting energy efficiency
Regional cooperation
ADB Support
Example: 100 MW Concentrated Solar Power in Rajasthan, India
Priority Areas
Project developed under India's National Solar Mission to promote solar power in India
Confronting Asia's Disparities:
Second Challenge
Disparities of well-being and wealth within and across the countries
Threat to social protection
Inclusive growth
ADB's initiative: equalizing access to opportunity
Example: ADB Project- Breaking with Tradition in Nepal
Promote better Education, Entrepreneurship & Innovation in middle income countries: Fourth Challenge
Education, Entrepreneurship and Innovation
Avoid middle income trap
Innovation and education vital for productivity
Education and innovation key drivers of economic development
New Schools Offer exit from Poverty Trap
Develop a new approach to urbanization: Fifth Challenge
Asia's urban population will double to 3 billion
Asia's cities expected to account for more than 80% of GDP in Asia
Key to Asia's competitiveness
New approach to urbanization
Massive urbanization creates added pressure
Need for investments
Adopt new approach: build more compact and eco-friendly cities
Example: ADB Project- Ulaanbaatar Services and Ger Areas Development Investment Program
A good example of inclusive urban development project is ADB's urban planning project for Ulaanbaatar, capital city of Mongolia
Transforming Finance: Sixth Challenge
Asia's financial system remains dominated by banks
Developing capital market is critical for ensuring adequate supply of long term financing
Transforming Finance
New infrastructure is essential.
Fill infrastructure gap.
Mobilize resources.
Need to fill huge gap in infrastructure investment
Good Governance: Seventh Challenge
Improving Governance
Good governance
Asia does not perform well in this area
Need of a multipronged tailored approach.
Good governance should be supported through different activities.
Strengthening Regional Cooperation and Integration: Ninth Challenge
Strengthening Regional Cooperation and Integration
Indispensable to attain prosperity and macroeconomic stability
Benefits:
- Expands market for goods and inputs;
- Improves resource allocation and productivity;
- Improves risk sharing; and
- Reduces income disparities between countries
Hence, it should be further supported at all levels.
Conclusion
In summary, Asia needs to pay more attention to:
Making growth green;
Making growth inclusive;
Promoting high savings, high investment paradigm & scale up the quality of labor force through investments in human capital;
Making growth knowledge-led;
Making growth sustainable in urban areas;
Financing the growth needs in an efficient manner;
Improving governance;
Achieving food security; and
Strengthening regional cooperation and integration
Improving Governance
Thank You!
But there is Another Asia
1.7 billion people live with less than $2 a day
Over 100 million children under 5 are underweight
750 million in rural areas in Asia and another 100 million in urban areas lack access to drinking water
2 billion people lack access to improved sanitation
828 million people live in extreme poverty
1 child out of 20 dies before age of 5
Work at the city master plan level to integrate poor peri-urban area (60% of the city population) into the city infrastructure programming;

Work at Communities, Sub-District and Service Provider levels;




Integrated approach to upgrade urban subcenters and provide basic urban and social services to the population; and

Develop a 10 years program and road map for urban redevelopment - financed by grant, loans, cofinancing and Municipal counterpart.

Example: ADB Project- Ulaanbaatar Services and Ger Areas Development Investment Program
Example: ADB's project in education in Viet Nam
2,482 classrooms built in 366 schools in 21 provinces and cities
Asia’s Great Transformation
Promote Resource Efficiency, Energy Diversification, Green Growth
Confronting Disparities
Aging Population
Promote better Education, Entrepreneurship & Innovation in middle income countries
Develop a New Approach to Urbanization
Transforming Finance
Improving Governance
Achieving Food Security
Strengthen Regional Cooperation and Integration
Conclusion
Outline
FIGHTING POVERTY IN ASIA AND THE PACIFIC
Asian Development Bank
International Trade and Finance Branch
Asia's Current Outlook
GDP growth and poverty reduction, 1990-2010
Sustained and rapid growth has sharply reduced poverty in Asia.
Asia's GDP grew in purchasing power parity terms by 7% from 1990 to 2010.
Notable decrease in the percentage of people living at or below the poverty line from 52% in 1990 to 21% in 2010.
However, income gaps are widening as shown by higher Gini coefficients.
Inequality in per capita income or expenditure rose, from early 1990s to late 2000s, in 11 of 28 Asian countries.
This widening dampens poverty-reducing effect of economic growth.
Increase in Gini coefficient, economies with rising inequality, 1990s-2000s
Aging Population: Third Challenge
Population aging has begun in Asia
Aging population implies a fall in the working-age population that will lead to lower output.
Sustaining growth depends on the ability of the economy to use additional workers productively.
Contribution to the annual growth rate per capita GDP, 1981-2010 and 2011-2030
Approaches to address population Aging
Strategic objectives
Good institutions and policies
Achieving Food Security: Eighth Challenge
Food security remains a key challenge
Economic progress BUT region still vulnerable to food supply shocks
Demand and Supply issue
Food price increase & volatilities: affect the poor, particularly
Economic growth cannot fully remove food insecurity alone.
Achieving food security is essential
To attain food security, there is a need to:
- Enact right policies;
- Scale up agricultural productivity and investment;
- Promote rural development;
- Enhance cooperation &
national borders;
- Promote food trade; and
- Enhance agricultural research
Re-emergence of Asia
In 2050, the region will generate the largest share of global GDP
Department of Foreign Affairs, Trade and Development
Paul-Edouard Clos
Senior Advisor to Vice President

Thierry de Longuemar
Vice President (Finance and Risk Management)
Full transcript