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Economy

The ADB faces up to new challenges

As the multilateral lender marks 50 years, its skills are more vital than ever

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Asian Development Bank headquarters in Manila: The lender forecasts Asia will need $1.7 trillion per year in infrastructure improvements from 2016 to 2030.   © Reuters

TOKYO -- Asia has seen remarkable growth in recent decades, but it still needs to improve power grids, roads, waterworks and other infrastructure, both to sustain that growth and as a result of it. Asian economies also need to attract private-sector capital to fund these improvements; states cannot pay for them on their own.

Demand for infrastructure improvements in Asia will reach $26 trillion from 2016 to 2030, or $1.7 trillion per year, according to an estimate published by the Asian Development Bank in February, roughly double its forecast just eight years earlier.

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