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Add to Preferred SourcesThe Asian Development Bank (ADB) and the World Economic Forum (WEF) signed an agreement to accelerate the flow of public and private finance into sustainable infrastructure in Southeast Asia through an Association of Southeast Asian Nations (ASEAN) hub for Sustainable Development Investment Partnership (SDIP).
The agreement, which will support the achievement of the Sustainable Development Goals in the region, was signed at the World Economic Forum’s Annual Meeting of the Global Future Councils in Dubai attended by ADB Director General for Southeast Asia Mr. Ramesh Subramaniam as a member of the Global Future Council on Development Finance and WEF’s Mr. Justin Wood, Head of Regional Agenda Asia Pacific and Member of the Executive Committee.
“As Southeast Asia faces a huge financing gap in sustainable infrastructure, it is vital to expand the use of private capital funds, which can also bring advanced technologies and management efficiencies to development financing,” said Mr. Subramaniam. “In particular, we need to accelerate the use of public and private financing to build climate-resilient infrastructure and provide equitable and environmentally and financially sustainable growth that the region needs.”
The World Economic Forum, committed to improving the state of the world, is an international organization for public-private cooperation. WEF engages the foremost political, business, and other leaders of society to shape global, regional, and industry agendas.
Original source: ADB
Published on 04 November 2019