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ADB-Review-January-2011

ADB-Review-January-2011

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Published by Shafin Ahmed

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Published by: Shafin Ahmed on Feb 16, 2011
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02/16/2011

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(Continued on page 3)(Continued on page 9)
N
am Theun 2, the Lao People’s Democratic Republic’s (Lao PDR) largest hy-dropower facility, was officially inaugurated on 9 December signaling a newera for growth, development and poverty reduction in the landlocked Southeast  Asian country.Over 90% of the electricity generated by the project is being sold to Thailand, pro-viding Lao PDR with a $2 billion revenue stream over the next 25 years.The funds are earmarked for the nationwide improvement of health and educationservices, and other poverty alleviation programs.“This project is a testament to the fact that when hydropower projects are doneright, in a socially and environmentally responsible manner, the benefits are consid-erable,” said Kunio Senga, Director General of ADB’s Southeast Asia Department.
IN THIS ISSUE
NEWS
ADB President Urges Deeloping Asia to Inest in Solar Energy
2
ADB Sets Up PooledInfrastructure Fund for Afghanistan
3
 
SpEEcH
The Call to Action: Moing Forward with SolarEnergy in Asia and the Pacific
4FEATURE
Bhutan: Homegrown Career Opportunities 
6pROJEcTNEWS
$300M Program to Expand Access to Housing in Indonesia
7
 $200M Loan to Help Delier Sustained, Higher, and Pro-Poor Growth
7
 $250M Ris Program to Expand Microfinance to the Poor
8
$250M Roadto Help Lift Economy in PRC’s Yunnan Proince
8
$200M Loan to DeepenFinancial Sector Reform in Philippines
9REGULAR SEcTIONS
Publications
10
Opportunities
 11
Operations Updates
 12
NEWS FROM THE ASIAN DEvELOPMENT BANk 
January 2011
     A     D     B
What’s Inside
Bhutan
Homegrown Career Opportunities
B’s fs-growig ecoomy reqires my skilled workers. aaDB-fded projec ims o esre e locl poplio is qlifiedo do em. Red e sory o pge 6.
A 350-meter height eleation between the reseroir and the Nam Theun 2 power station enablesthe generation of 6,000 gigawatts of electricity per year.
G
overnments and monetary authorities in emergingEast Asia need to cooperate more on exchange ratesand other policies to turn the swift post-crisis recoveryinto more balanced, long-term growth.“Regional exchange rate cooperation—if handledwisely—can ensure intraregional exchange rate stabilitywhile allowing inter-regional flexibility; thus helping pro-mote intraregional trade and investment, and rebalancethe region’s sources of growth,” said the special section of the latest edition of ADB’s
 Asia Economic Monitor
, releasedin December.
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East Asia Needs to Lookat Currency Cooperation
Lao PDR Hydro Project SpursDevelopment, Improves Lives
(Continued on page 2)
T
he ADB Board of Directors has approved a $1.1 billionfinance package for two major transportation projectsin Viet Nam that will help unclog Ho Chi Minh City’sovercrowded roadways. ADB will provide $540 million toward a $1.4 billion project to construct a second mass transit line in Ho Chi Minh City, andan additional $636 million for a $1.6 billion project to construct a modern expressway to the south of the city.“These projects will significantly reduce traffic congestion,help lower traffic accidents, and abate carbon emissions,” said James Lynch, Director of ADB’s Transport and Urban Develop-ment Division for Southeast Asia.Private vehicles currently dominate Viet Nam’s transporta-tion landscape, and in Ho Chi Minh City, road infrastructure isreaching saturation point. With the population of the greater Ho Chi Minh City area expected to grow from its current 9 million to almost 14 millionby 2025, traffic will continue to intensify, particularly as more
$3B Transport Projects to EaseGridlock in Ho Chi Minh City
 
2Jry 2011
has been invested in downstream water qualitymanagement, with better than expected results.The Nam Theun 2 Power Company is alsodisbursing $1 million annually for the protec-tion of the 4,000-square-kilometer Nakai-NamTheun Biodiversity Conservation Area.Nam Theun 2 will release 35 times lessgreenhouse gases than a coal-fired powerplant of equivalent size, and the biodiversity
NEWS
 Asian countries will need to aim to maintaineconomic progress and improve energy security,while simultaneously chartinga new low-carbondevelopment path
Haruhio kurodaADB President
Lao pDR Hydro projet…
(Continued from page 1)
Before the Nam Theun 2 project, more thanhalf of the families in Nakai Plateau villages,where the project is located, lived in poverty.Child mortality rates were high, clean drinkingwater was scarce, and sanitation was almost nonexistent.“Today, the vast majority of residents say theyare better off than ever before,” said Mr. Senga.Families who had to move to make way forthe dam have been provided with new hardwoodhomes complete with electricity, clean water, andsanitation facilities.These improvements, coupled with improvedhealthcare services, have resulted in a measur-able decline in child and infant mortality rates,with parasitic infections falling by 90%.The transition from subsistence livelihoods,based on slash-and-burn agriculture, to a moresettled agricultural market economy has not al-ways been easy for many households, but familiesreport their food security has notably improvedsince their move.“This is an incredibly complex project, andnumerous challenges have arisen along the way,”said Mr. Senga. “By working closely with commu-nities, we strive to address their concerns—fromcompensation to the need for more land—andto introduce programs tailored to their specificneeds. We will continue to closely monitor thesituation.”The project has also placed great emphasison environmental management. Over $60 million
T
he Asia Solar Energy Initiative (ASEI)—a major program launched by ADB in Maylast year to identify and develop largecapacity solar projects—will increase the amount of solar power generated in Asia and the Pacificsix-fold to 3,000 megawatts (MW) by mid-2013,said ADB President Haruhiko Kuroda.Opening the second meeting of the Asia SolarEnergy Forum (ASEF) in Tokyo on 1 December,Mr. Kuroda urged governments in Asia and thePacific to invest in solar energy to help ensuretheir future growth is environmentally sustain-able. The forum, a major component of the ASEI,is the premier platform for sharing solar energyknowledge, tracking solar development projects,and discussing new solar power proposals andincentive mechanisms.Mr. Kuroda noted that Asia and the Pa-cific’s high economic growth rates, continuingpopulation growth, and current and projectedenergy demand gap provide a huge market opportunity and potential for solar energydevelopment.
 ADB President Urges Developing Asia to Invest in Solar Energy
“Asian countries will need to aim to maintaineconomic progress and improve energy security,while simultaneously charting a new low-carbondevelopment path,” he said.The forum coincided with the United NationsFramework Convention on Climate Change(COP16) talks in Mexico in December, wheredelegates from around the world looked for waysto reconcile the twin challenges of economicgrowth and environmental sustainability.Mr. Kuroda hailed Asia and the Pacific’sembrace of renewable technologies, such as solarenergy, which he said should benefit from financeand technology transfers from developed countriesirrespective of the formal outcome of the COP-16negotiations.Before the launch of ASEI, the region producedless than 500 MW of solar power from installedplants. The capacity is expected to reach 1,000 Mby 2011, and to 3,000 MW by May 2013.
 
n
conservation area will help sequester anadditional 40–60 million tons of carbon dioxide(CO2) emissions. ADB provided $120 million in support of the $1.43 billion project. Twenty-seven different financing institutions supported the project,including the World Bank, the European Invest-ment Bank, and Agence Française de Dével-oppement.
n
Former residents of Nakai Plateau now fish the waters that coer their old homes. Abundant fish stocks in thereseroir proide many resettled illagers with a lucratie income.
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3
Jry 2011
NEWS
These projects will significantly reduce trafficcongestion,help lower traffic accidents,and abatecarbon emissions
James LynchDirector, Transport and Urban Deelopment DiisionADB’s Southeast Asia Department
 Afghanistan by establishing the AfghanistanInfrastructure Trust Fund, which will serve tofund the next generation of key infrastructureprojects throughout the country.”The fund will provide grant cofinancing along-side ADB-funded infrastructure projects, withresources supplementing those provided by ADBthrough its own operational budget. The AfghanMinistry of Finance and ADB will work togetherto ensure that the Afghanistan Infrastructure Trust Fund is efficiently utilized to support the highest priority infrastructure projects and leverage ad-ditional financing from the private sector and otherpartners. The trust fund will also rely on ADB’soperational and project management expertise toenable the Government of Afghanistan to implement the country’s key infrastructure development plans. ADB is Afghanistan’s fourth largest develop-ment partner overall with assistance of nearly$2.2 billion between 2002 and 2009.
n
DB will set up a new fund that willpool public and private resources tohelp Afghanistan finance much-neededinfrastructure. ADB’s Board of Directors has approvedthe creation of the Afghanistan InfrastructureTrust Fund, with ADB as its manager. It willprovide an opportunity to bilateral, multilateral,and individual contributors to partner with ADBin financing infrastructure investments such asroads, railways, airports, energy facilities, andirrigation systems, and improve the livelihood of the Afghan people.“The objective is to pool resources and toleverage cofinancing support from the private sec-tor and other development partners,” said JuanMiranda, Director General of ADB’s Central and West Asia Department. Afghanistan’s infrastructure require-ments are estimated at $4 billion over the next 3 years—far more than the government or anysingle funding agency can provide. Among keyareas of need are stronger transport links, energysecurity, partnerships for the development of mineral resources, and support for private sectordevelopment. At the Kabul International Confer-ence on Afghanistan in July, the internationalcommunity called on ADB, as the country’s leaddevelopment partner in the infrastructure sector,to set up a dedicated fund.The Government of Afghanistan’s Ministerof Finance, Dr. Omar Zakhilwal, said: “The ADB is renewing its enduring commitment to
 ADB Sets Up Pooled Infrastructure Fund for Afghanistan
$3B Transort projets…
(Continued from page 1)
people make the switch from motorbikes to carsas incomes rise.The 11.3-kilometer metro rail line will stretchfrom Ben Thanh in central Ho Chi Minh City,near the city’s largest market, out past the TanSon Nhat International Airport to Tham Luong.Under the project, 9.3 kilometers of the masstransit line will run underground, with 2 kilome-ters of elevated and transition track. Approximately 213,000 passenger loadingsper day are expected during the first year of operation in 2017, rising to 300,000 per day by2020 and over 700,000 daily loadings by 2035.The metro rail will reduce travel time alongthe corridor by 20% from 2010 levels, with trafficaccidents expected to fall by 30%.The ADB-backed metro rail line will beconstructed in coordination with other metrorail lines being developed in Ho Chi Minh City,the first of which has been significantly fundedby the Japan International Cooperation Agency.The 57-kilometer expressway between BenLuc and Long Thanh will further alleviate trafficin the center of Ho Chi Minh City, while facili-tating the transport of goods between the majorports of Ho Chi Minh City.“Today, vehicles traveling from east towest have to pass through the heart of HoChi Minh City,” said Mr. Lynch. “This causesmajor gridlock, increases logistics costs forbusinesses, and measurably hinders the city’seconomic growth.” When the full expressway opens in 2017,through-traffic will be able to bypass the citycenter, reducing east–west travel time by 80%and traffic accident rates by 10%.Mindful of climate change, the expressway isdesigned to be flood-proof, with half of the roadconsisting of bridges and viaducts.The Government of Japan is expected to pro-vide $635 million for the Ben Luc–Long ThanhExpressway Project, with the Government of Viet Nam providing the remaining $337 million.
n
Afghanistan’s infrastructure requirements are estimated at $4 billion oer the next 3 years. The AfghanistanInfrastructure Trust Fund will leerage additional financing from the priate sector and other deelopment partners.
   M   i  c       e   l   B    r  r  o  w

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