TOKYO -- Two major global development banks are split on the impact of the Ukraine war on Asian economies: the World Bank is pessimistic, while the Asian Development Bank is confident that growth in the region will "continue to be strong."
In its economic outlook for 2022 published Tuesday, the World Bank projects that the East Asia and Pacific region will grow 5%, down from the 5.4% it previously projected in October. The lender warned that the Ukraine war threatens an uneven recovery from the pandemic in the region.
