Joint Dissemination Seminar for the ADB/ADBI Flagship Study Book on Infrastructure for a Seamless Asia

On 27 May in Beijing, ADBI together with ADB and the Asia-Pacific Finance and Development Center, the PRC's Ministry of Finance, launched ADB/ADBI's flagship study book "Infrastructure for a Seamless Asia". The seminar was attended by about 60 people, among them senior Chinese policymakers, representatives from the World Bank, the UNDP, UNESCAP, ADB, ADBI, the media, private sector experts, and academics.

The study examines the major issues and challenges in developing regional infrastructure and fostering regional cooperation on infrastructure-related issues in Asia. Progress made with existing programs, policies, and institutions is evaluated, their merits assessed, and recommendations are given on how to develop and improve their effectiveness. Not only broad pan-Asian initiatives but also sector specific subregional efforts, particularly in transport and energy, are examined. One of the study's key findings is that Asia needs investment of $750 billion annually in infrastructure for pan-Asian connectivity in the transport, communications and energy sectors across the region from 2010 to 2020, but that this would result in income gains of about $13 trillion throughout Asia. It also calls for an "Asian Infrastructure Fund" to mobilize public and private funds to support regional projects, and a "Pan-Asian Infrastructure Forum" to coordinate and integrate existing subregional infrastructure initiatives.

In his opening remarks, Wu Jinkang, deputy director-general of the international department of the PRC's Ministry of Finance said "Although Asia has demonstrated resilient economic growth, infrastructure in the region remains underdeveloped, blocking further national and regional growth as well as further Asian economic integration". He urged countries to boost their cooperation in major sectors like transportation and energy.

ADBI Dean, Masahiro Kawai, noted that, "In view of Asia's enormous untapped economic potential and the global financial crisis, now is the time to build efficient and seamless connections across Asia and with the rest of the world for a more competitive, prosperous and integrated region."

In his keynote address, Klaus Gerhaeusser, director-general of ADB's East Asia department, proclaimed that such infrastructure investment for Asian connectivity would boost regional economic growth with benefits for all participating countries. At a panel discussion, Biswa N Bhattacharyay, Lead Professional and Adviser to Dean, ADBI, Klaus Rohland, Country Director for China, Mongolia and Korea, the World Bank, Chunping Feng, Deputy General Manager, Export-Import Bank of China, Hongbin Jiang, Vice President, China Construction and Design International Group, and Peter Kennedy, Managing Director, CLSA Capital partners of Singapore discussed financing mechanisms for the required infrastructure investments; the role of coordination and cooperation among stakeholders, and the private sector; and public-private partnerships in regional infrastructure development; and the building renewable energy infrastructure, among other issues. Paul Heytens, Country Director, ADB Resident Mission, Beijing delivered the concluding remark.