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Developing Asia can sustain growth pace, risks easing: ADB

By Rosemarie Francisco MANILA (Reuters) - Developing Asia is poised to sustain its current growth momentum and is well positioned to manage risks coming from a slightly slower Chinese economy and possible uneven demand from major industrialized nations, the Asian Development Bank said. Asian nations can undertake preemptive measures to protect the region's growing economy from unpredictable capital inflows, said the Manila-based lender as it unveiled its forecasts for the region for 2014 and 2015.

Asia growth risks being dampened by China slowdown

The Asian Development Bank on Tuesday said growth in developing Asia will edge higher over the next two years, but faces being constrained by China's campaign to cool its economy. The Manila-based lender said in a forecast that adjustments in China, the world's second-largest economy and a key growth driver, could offset improving demand as growth picks up in advanced economies such as the United States, Europe and Japan.

ADB punishes individuals, firms in fraud investigation

The Asian Development Bank has imposed sanctions on 30 people and 31 firms for "integrity violations" following graft-related investigations into projects it funded, the lender said. The ADB investigated a record 250 allegations of corruption, collusion, coercion and fraud last year, 10 more than in 2012, the bank said in a report published Wednesday.

ADB punishes individuals, firms in $1 billion fraud probe

The Asian Development Bank has imposed sanctions on 30 people and 31 firms for "integrity violations", following a 2013 fraud investigation into $1 billion worth of projects it funded, the lender said. The ADB said it investigated a record 250 allegations of corruption, collusion, coercion and fraud last year, 10 more than in 2012, the bank said in a report published Wednesday The investigation included six projects operational between 2006 and 2010 in China, Azerbaijan, Pakistan, Nepal and Laos, which were probed for "procurement-related" issues, ADB said in the report.

ADB sees lower growth for Southeast Asia in 2013

ADB sees lower growth for Southeast Asia in 2013 MANILA, Dec. 11 (Xinhua) -- The Asian Development Bank (ADB) revised down its growth forecast for Southeast Asia following the extensive damage caused by super typhoon Haiyan in the Philippines last month. In a report released on Wednesday, the Manila-based lender projected growth in Southeast Asian countries including the Philippines to reach 4.8 percent, down from its forecast of 4.9 percent in October.

ADB offers 100 mln USD to help improve Afghan irrigation: ministry

ADB offers 100 mln USD to help improve Afghan irrigation: ministry KABUL, Dec. 4 (Xinhua) -- The Asian Development Bank (ADB) provided Afghanistan a grant of 100 million U.S. dollars to help improve its aging irrigation system, said a statement released by the Afghan Ministry of Finance on Wednesday.

ADB sees rising fiscal pressures in Pacific countries in 2014

ADB sees rising fiscal pressures in Pacific countries in 2014 MANILA, Dec. 2 (Xinhua) -- Fiscal pressures are expected to increase in the Pacific in 2014, according to the latest report released by the Asian Development Bank (ADB) on Monday. For one, the Manila-based lender said public spending for post- cyclone recovery in Samoa is likely to slow progress towards fiscal consolidation and drive up debt levels.

ADB faces funding crunch, warns India

The Asian Development Bank is facing a funding crunch as the multilateral lending agency seeks to reduce widespread poverty in emerging market nations and boost infrastructure, India warned Saturday. The Asia-Pacific region, despite boasting the world's fastest-growing economies, is still home to around two-thirds of the world's poor, with some 1.5 billion people living on less than $2 a day.

ADB faces funding crunch, warns India

The Asian Development Bank is facing a funding crunch as the lending agency struggles to reduce widespread poverty in emerging market nations and improve ramshackle infrastructure, India warned Saturday. The Asia-Pacific region, despite boasting the world's fastest-growing economies, is still home to around two-thirds of the world's poor, with some 1.5 billion people living on less than $2 a day.

ADB stresses need to boost financial resources to promote growth

The Asian Development Bank on Saturday stressed the need to strengthen its financial resources to help Asia reduce poverty and achieve more economic growth as the region's financial chiefs gathered for the multilateral lender's annual meeting. The ADB's operations last year came to a total of around $22 billion including about $8 billion in co-financing, but the figure "still falls far short compared with the needs of the region," ADB President Takehiko Nakao said in his speech delivered at the start of its two-day meeting in India.
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