The Asian Development Bank revised its economic growth outlook for developing Asia down slightly to 7.0% this year and 5.3% next year, after renewed outbreaks of COVID-19 led to slower growth in the third quarter.
Faster import growth widened the trade deficit, but growth will be supported by private investment with imports of capital machinery and raw materials for garments
News Release | 28 April 2021
MANILA, PHILIPPINES (28 April 2021) Green and social finance must be nurtured to ensure that Asia and the Pacific s recovery from the coronavirus disease (COVID-19) pandemic is inclusive, resilient, and sustainable, according to
Governments should use policies to support the development of social and green finance financing instruments designed to promote environmental and social goals according to the report’s theme chapter,
Financing a Green and Inclusive Recovery. The report urges governments to use fiscal measures, legislation, and regulation to accelerate the growth of green and social finance. Regulations that enforce common standards for information disclosure and impact measurement can help ensure that green and social finance is effective, sustainable, and attractive especially for the private sector.