"UN member states reached broad consensus last Friday on the need to help developing nations cope with the global financial crisis but the United States voiced reservations about key recommendations. An outcome document was adopted by acclamation at the end of a three-day debate marked by strident calls by developing countries for a drastic reform of multilateral financial institutions.

Participants agreed to call on the G20 developed and emerging nations to follow through with their April commitment to provide 1.1 trillion dollars to revitalize the world economy and to further consider addressing the financial needs of developing countries, especially low-income countries. They also urged countries, while implementing national stimulus measures, to avoid protectionism in any form and possible adverse impacts on third countries, particularly developing countries."

"India's hopes of launching much-needed road, port and power projects may be deflated by a funding squeeze as government finances are constrained, long-term domestic money is scarce and battered overseas investors and lenders watch from the sidelines. If starved of the spending, India's overburdened infrastructure is bound to hinder the country's efforts to return to an economic growth rate of 9 percent a year and hurt its goal to become the fastest growing major economy in the world in 2010.

Asia's third-biggest economy needs $500 billion for its infrastructure over the five years to 2012, the government has estimated. About 30 percent of that is expected from private funds, as the government tries to contain a widening fiscal deficit. Infrastructure projects require capital that is willing to be committed for decades, and projects can carry substantial execution and financial risk. Neither India's banking system nor the domestic institutions have the money to finance India's infrastructure needs, and corporates want to tap retail money."

"Green projects are among the major beneficiaries of China's 4-trillion-yuan ($586 billion) stimulus package. Some 210 billion yuan will support environmental initiatives, including the construction of sewage and waste treatment facilities and improvements to energy-efficiency and ecology conservation.

A total of 160 billion yuan will flow into pollution treatment projects aimed at protecting rivers and lakes. Most of the investment will support sewage and waste treatment facilities. The latest report from the Ministry of Finance shows that between January and May, spending on environmental protection rose 93.5 percent over the period last year."

"Positive growth numbers in a few key sectors coupled with fresh FII and FDI inflow may place the India story on a faster track. Both the government and industry, which are now betting on non-export driven sectors thanks to the renewed domestic demand, are hopeful that India would be able to tide over the current slowdown faster than anticipated earlier. And a little boost from the forthcoming Budget may make the case even stronger.

The growth in food and beverages segment was as high as 21.7% in April as compared to the same month last year. In fact, India attracted foreign direct investment (FII) of $5.3 billion during April and May. The positive FII numbers in these months were recorded after the net FII outflow for eight consecutive months."

"Indonesia's plans to shift exports from faltering traditional markets to new non-traditional markets to sustain export growth despite weakening global demand may be on track, a senior official says. The latest export figures indicate that half of the country's exports would shift to new markets by the end of the year. A key factor in ensuring the success of the plan is the Indonesian Exports Financing Agency, which is expected to be in full operation in July.

The value of Indonesia's exports may contract 20 percent this year, while volume may fall between 5 and 10 percent. But the recent pickup in commodity prices could eventually boost exports, to help bring economic growth up to about 4.5 percent."

"The 'ground breaking ceremony' for the Saigon - Hiep Phuoc Port took place on a tourist boat on the Soai Rap River because there are still no roads to the construction site. In fact, no ground was broken at all during the ceremony in Ho Chi Minh City in May. The event underscored the ruinous effect unfinished road projects could have throughout the economy as major port projects intended to revitalize the shipping industry are inaccessible and on hold.

Without proper roads in the area, construction crews simply can't reach the site. Connecting roads have been a huge problem for several other port projects in the city, many of which have seen construction halted or output dwindle. The $366-million Saigon Premier Container Terminal, another port project at Hiep Phuoc, was scheduled to open in the third quarter this year, but all roads leading to the facility are far from completion."

"It is apparent that the Bangladesh government has seized the opportunity of welcoming the private sector through the public-private partnership (PPP) initiative. Finance Minister Muhith has made history by allocating Tk 2,500 crore for PPP -- the largest chunk of block fund in the budget. PPP can open up huge avenues of synergy between the public and private sectors and also unlock the investment potential of the country.

The advantage of PPP is that the state can use this vehicle to steer private capital to areas where normally it would shy away from. The most appealing aspect of PPP projects (from the taxpayers' perspective) is that the risk of performance or project completion totally devolves on the private partners allowing the government to extricate itself from the risk of non-performance and tying up funds and resources in projects that do not provide the intended results or services."

"New Zealand's Recognised Seasonal Employer Scheme may be contributing to a drift from the villages to the cities in some Pacific countries. The issue was raised at a conference on the vulnerability and resilience of small island states that's just been held in Port Vila.

It is estimated that about 80 to 90 percent of people from rural communities who go to work in New Zealand under the scheme remain in Port Vila when they return. That's a big loss to the villages. While people do send remittances to their families, the money does not appear to last long."

"India needs to curb a concentration of wealth greater than that seen in Brazil and Russia or risk becoming hostage to a corporate oligarchy that will depress its rapid economic growth. A recent study found that by early last year India had 50 billionaires who together controlled wealth equivalent to 20 percent of gross domestic product and, reportedly, 80 percent of the stock market capitalization.

India's corporate sector is widely hailed as one of the most dynamic in the emerging markets world, with conglomerates such as Reliance Industries leading the expansion of the country's oil and gas sector, and the Tata group acquiring overseas companies. However, critics warn that the greater prosperity from market-driven policies introduced since 1991 is also leading to huge wealth disparities in India, where annual per capita income is about $1,000."

"Underground water in Vietnam has been exploited unmethodically and not controlled properly. In HCM City, though they have access to the public water supply, many families still drill wells. There are an estimated 90,000 wells in the inner city, despite the rules on drilling well management. In the suburbs, wells are everywhere and the people neglect the regulations about asking for local authorities' permission for drilling wells.

In the Mekong Delta, thousands of wells have been drilled to serve shrimp breeding lagoons and fields but the local authorities said they don't have statistics about the number of such wells. Researchers from the Irrigation University warned that underground water in the Mekong Delta has dropped by over 10m. Without intervention from the authorities, it will fall to the 'dead level' in the next five years."

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