Ongoing urbanization, a growing middle class and increasing domestic consumption are escalating the need for new or improved infrastructure throughout Asia. But most countries lag far behind in meeting this need and their future economic growth is at risk as a result.
“If Asia is to continue to lead global economic growth, then its cities need to be up to the task. Unfortunately, many are not,” notes Incentivizing Asia’s Urban Future, a research report for the Cities Development Initiative for Asia’s (CDIA) High-level Urban Policy Round-table held in November 2011. CDIA is a regional initiative established in 2007 by the Asian Development Bank and the government of Germany, with additional core funding support of the governments of Austria, Spain, Sweden and the Shanghai Municipal Government.
“Their existing infrastructure is under stress, and not enough is being built,” continues the report. Such infrastructure shortages need to be addressed in ev