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Economy

Digital, trade infrastructure key to Southeast Asia recovery: ADB

As pandemic-hit economy faces risks of inequality, bank urges strong protections

People wear masks against COVID-19 in Jakarta on March 15. A new ADB report says Indonesia should speed up connections across the archipelago and push technology transfers in order to hasten recovery from the pandemic.   © Reuters

HO CHI MINH CITY/TOKYO -- To rebound from a "scarring" pandemic, Southeast Asia must invest in a stronger and faster internet and cooperate on greener infrastructure to bolster trade, according to the Asian Development Bank.

The region needs climate-friendly tourism, supply chains and digital businesses to bounce back from a pandemic that already has lopped 10% off the Southeast Asian economy, the ADB said in a report on Wednesday. It aims to deliver $100 billion in financing from 2019 to 2030 to ensure a clean economy that "works for everyone," ADB President Masatsugu Asakawa said.

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