Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

ADB - Asian Development Bank : Greater Mekong Ministers to Review New Phase of Development Priorities

12/11/2012 | 02:23am EDT

GMS Ministers will review a pipeline of multisectoral second generation projects proposed under the Regional Investment Framework (RIF) while meeting in Nanning, PRC.

MANILA, PHILIPPINES - Ministers from the Greater Mekong Subregion (GMS) will review progress on the Regional Investment Framework (RIF) to boost implementation of the GMS Strategic Framework 2012-22, as they meet today and tomorrow for the 18th GMS Ministerial Conference in Nanning, People's Republic of China (PRC).

The RIF, which was endorsed as part of the new GMS Strategic Framework 2012-22 at the 4th GMS Summit in December 2011, helps formulate a comprehensive pipeline of investment and non-lending projects based on sector assessments and country needs.

In addition to traditional GMS projects, the RIF proposes multisectoral second generation projects, including urban development along existing transport corridors; better road, rail and sea links; building up national power grids; promotion of regional food handling guidelines; establishing sustainable tourism projects; boosting environmental planning and management; and shoring up human resource capacity. These investments should help GMS countries transform transport corridors into economic corridors.

While the RIF will be finalized in 2013, investment projects worth at least $9 billion have already been identified. The Asian Development Bank (ADB) recently approved $37 million in funding for corridor town development in Cambodia, and $41 million for similar projects in Lao People's Democratic Republic (Lao PDR). Meanwhile, headway is already being made on institutional issues as well, with progress on the establishment of the Regional Power Coordination Center and the Greater Mekong Railways Association.

Since 1992, the GMS Program has invested about $15 billion in projects covering subregional roads, airports and railways, power facilities, tourism infrastructure, and communicable disease prevention, with ADB's share totaling more than $5 billion. GMS countries include Cambodia, PRC, Lao PDR, Myanmar, Thailand, and Viet Nam.

distributed by

© Publicnow 2012
Latest news "Economy & Forex"
10:02aMOTOGP : Brilliant Bagnaia blasts his way to successive poles
PU
09:24aAustralia made 'huge mistake' in cancelling submarine deal, says French envoy
RE
09:00aUK business minister meets energy bosses over soaring gas prices
RE
08:04aGermany's Laschet says trusts ECB to keep inflation in check
RE
07:46aMalaysia warns new Indo-Pacific pact may trigger nuclear arms race
RE
06:41aAustralia made 'huge' mistake' cancelling submarine deal, says French ambassador
RE
06:29aChina will steadily promote yuan internationalisation in 2021, central bank says
RE
05:50aChina's August exports to North Korea up for third month
RE
05:31aFactbox-Key economic policy stances of candidates to be Japan's next PM
RE
03:43aJapan's PM contender Kishida says won't raise sales tax for a decade
RE
Latest news "Economy & Forex"