Asia-Pac 'needs twice as much investment for infrastructure'

Tokyo

THE Asian Development Bank (ADB) has more than doubled its previous estimate of the annual investment that has to be made in basic infrastructure in the Asia-Pacific for it to continue growing economically and reducing poverty.

The bank said on Tuesday that developing Asia (excluding advanced nations such as Japan) will need to invest US$1.5 trillion a year between now and 2030 (a total of US$22.6 trillion), to beef up power, transport, communications and other infrastructure, mostly in China and India.