{"id":11693,"date":"2014-05-24T16:22:42","date_gmt":"2014-05-24T08:22:42","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=11693"},"modified":"2014-05-24T16:22:42","modified_gmt":"2014-05-24T08:22:42","slug":"adb-warns-southeast-asia-of-unnoticed-crisis","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2014\/05\/24\/adb-warns-southeast-asia-of-unnoticed-crisis\/","title":{"rendered":"ADB warns Southeast Asia of unnoticed crisis"},"content":{"rendered":"
\"Asian<\/a>
Asian Development Bank in Mandaluyong City, Philippines. Eugene Alvin Villar \/ Wikipedia<\/figcaption><\/figure>\n

MANILA — Private funding for infrastructure in five biggest Southeast Asian members has declined\u00a0steeply; this is a largely unnoticed crisis in Southeast Asia according to an Asian\u00a0Development Bank Official on Thursday.<\/p>\n

“It’s coming up but it’s nothing like it was in 1997,” Stephen Groff, ADB Vice President\u00a0for operations told The Associated Press.<\/p>\n

Groff warned about the private investment in infrastructure\u2019s failure to recover for nearly\u00a0two decades from $38 billion in 1997 to around $25 billion in 2010.<\/p>\n

“Essentially, the ASEAN financial crisis led to a crisis of confidence with governments,\u00a0a crisis of confidence in the private sector, and there hasn’t been enough investment or\u00a0discussion or development of tools that allow risk-sharing to be used appropriately,” he\u00a0added.<\/p>\n

Groff refers to the five biggest members Southeast Asia which includes Malaysia,\u00a0Philippines, Thailand and Vietnam.<\/p>\n

While efforts have been made by some countries to help facilitate private investments in\u00a0infrastructure by addressing legal and regulatory issues, Groff noted that the process is\u00a0not easy and it takes time.<\/p>\n

He also emphasized the need to formulate mechanisms to mitigate risks and develop\u00a0bankable projects that would attract private investments and return the region\u2019s extra\u00a0savings which have been invested in U.S. and Europe\u2019s low-yielding treasury bonds.<\/p>\n

In the a similar report published by the Associated Press, Finance Secretary Cesar\u00a0Purisima said in order to make a sustainable growth possible, more infrastructure\u00a0investments has to be made by the \u201ccapital surplus region.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA — Private funding for infrastructure in five biggest Southeast Asian members has declined\u00a0steeply; this is a largely unnoticed crisis …<\/p>\n","protected":false},"author":44,"featured_media":11726,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,95],"tags":[3910],"class_list":["post-11693","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-news-ph","tag-asia-development-bank","mauthors-lei-fontamillas","mauthors-philippine-canadian-inquirer"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/11693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=11693"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/11693\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/11726"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=11693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=11693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=11693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}