Latest news with #AsianDevelopmentBank
New Indian Express
20 hours ago
- Politics
- New Indian Express
Offshore breakwaters proposed for Shankhumukham trigger debate
THIRUVANANTHAPURAM: As Shankhumukham Beach continues to face severe erosion, experts have recommended the construction of offshore breakwaters to protect the shoreline and restore the once-popular destination in the state capital. However, the proposal has triggered criticism and concern, with many pointing to the still-incomplete offshore breakwater project at nearby Poonthura. MLA Antony Raju, after discussions with multiple departments and experts, has decided to push the offshore-breakwater project mooted by the Kerala State Coastal Area Development Corporation (KSCADC) to protect the Shankhumukham. However, the decision hasn't gone down well with the irrigation department -- which is responsible for coastal conservation in the state. The decision to proceed with the offshore-breakwater project has come at a time when the irrigation department has drawn up a comprehensive project, funded by the Asian Development Bank (ADB), to construct 'land-locked breakwater' at Shankhumukham -- one of the critical spots under threat of erosion in the state. The department has decided to oppose the offshore-breakwater project on the grounds that it's not suitable for Shankhumukham Beach. According to official sources, the department has already submitted a proposal. The Rs 150-crore project proposes beach nourishment along with land-locked breakwater and is expected to be completed within five years. 'The ADB-funded project is a foolproof project which has been drawn up after years of study. Government approval will see the project take off immediately. Offshore breakwater is not suitable for beaches like Shankhumukham which have very high wave activity,' a senior official with the department said. 'Nothing has been finalised and there will be more discussion at the government-level,' the official added.
Time of India
2 days ago
- Business
- Time of India
Corridors of innovation - India and Dubai's infrastructure pact in action
While global attention often lingers on freight disruptions and shipping capacity, a more transformational shift is quietly unfolding between India and the United Arab Emirates. The two economies are not simply moving more goods—they are reimagining the infrastructure that enables it. At the center of this transformation is the India–Dubai corridor—where bilateral investments, joint digital systems, and co-developed logistics hubs are setting a new benchmark for regional trade cooperation. From deep-sea ports in Gujarat to dry port ecosystems in Maharashtra, and from Dubai's electric vehicle–equipped logistics hubs to shared cargo visibility platforms, a next-generation trade corridor is taking shape. This is not just about improving trade. It is about engineering interdependence through concrete, code, and coordinated policy. In January 2025, DP World confirmed a $2.5 billion 1 global investment package, with a significant share allocated to Indian logistics partnerships and multimodal corridors connecting the subcontinent to the UAE. 'This US$ $2.5 billion commitment reflects our confidence in long-term trade growth and our determination to build the infrastructure needed to keep the world connected,' H.E. Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, had then emphasised. The Tuna Tekra terminal in Gujarat, developed in partnership with Adani Ports 2 , is a flagship project. The facility includes a 1.1-kilometre berth, advanced handling equipment, and direct rail access to India's Western Dedicated Freight Corridor. It is already being positioned as a key node for cargo headed toward the Middle East, Africa, and Europe. 'Gujarat's port infrastructure is no longer just for maritime throughput—it's becoming a base for integrated, value-added logistics,' said an official at India's Ministry of Ports. On the other side of the Arabian Sea, Jebel Ali Port continues to evolve. With over 1,000 Indian companies 3 operating out of its Free Zone, and increasing warehousing demand from Indian exporters of electronics, textiles, and pharmaceuticals, Dubai's role is shifting from a gateway to a collaborative hub. This deepening integration between Indian exporters and Dubai's multimodal logistics network is now being reinforced by a shared emphasis on sustainability and innovation—marking a new phase in the bilateral trade journey. Sustainability is no longer a talking point—it is a design principle. At JNPT, India's busiest container port, a $131 million 4 modernisation initiative funded by the Asian Development Bank is installing electric cranes, upgrading yards, and integrating solar energy into port operations. 'Enhancing trade infrastructure is no longer about volume alone. It's about climate resilience, smart energy, and urban integration,' said Ashok Lavasa, Vice-President for Private Sector Operations and Public–Private Partnerships – Asian Development Bank (ADB) Across the Gulf, DP World's Jebel Ali Port is deploying AI-enabled route planning for electric terminal vehicles. The model draws on lessons from the company's Callao port in Peru, where EV deployment saved 2,400 tonnes 5 of CO₂ in just over a year. India's Jalna Dry Port in Maharashtra is another vital node in the corridor. Once operational, it will process up to 10 million TEUs annually 6 , directly linking central India's industries to global export lanes via JNPT and Tuna Tekra. 'India's freight corridors and dry port ecosystems are starting to mirror the integrated logistics we've built in Dubai—tailored for domestic scale and rural access,' said a DP World infrastructure planner involved in Indian operations. Dubai is responding in kind. The Roads and Transport Authority 7 has announced feasibility studies to build inland consolidation hubs based on India's Jalna and Dadri dry port models, aimed at decentralising last-mile freight. Digital transformation is perhaps the most forward-looking development. In Q1 2025, Indian Customs and Dubai's Ports, Customs and Free Zone Corporation began piloting a joint cargo visibility platform. The blockchain-enabled dashboard allows real-time tracking from Indian factories to UAE warehouses. It also integrates customs clearances, container scans, and CO₂ footprint calculators. Industry leaders such as Soham Chokshi, CEO & Co-Founder of Shipsy, emphasise that digital visibility and automation are now mission-critical for SMEs exporting through corridors like India–Dubai, driving both reliability and sustainability. On digitalisation and future-ready shipping, the Union Minister reiterated how it is the core strategy of India's maritime policy. India's naval policies, such as ONOP, NLP (Marine), and MAITRI, are streamlining port services, reducing transaction times, and enabling real-time data. India is also partnering with the UAE and Singapore to create Virtual Trade Corridors for seamless cargo movement. 'India's maritime vision, rooted in ' Vasudhaiva Kutumbakam ', promotes collaboration and shared prosperity. As a reliable and responsible partner, India is committed to building a green, secure, and inclusive maritime future,' said Union Minister Sarbananda Sonowal. Meanwhile, DP World has begun rolling out digital twin technology in terminals at Nhava Sheva and Mundra, following successful deployments at London Gateway and Constanța. These simulations help ports optimise traffic flows, test maintenance windows, and reduce idle time for container lifts. What's unfolding is not merely an exchange of goods—it's a shared blueprint for long-term infrastructure reliability and strategic cooperation. For India, it means access to high-performing logistics frameworks. For Dubai, it strengthens its position as a global distribution centre for South Asian exports into Africa, Europe, and the wider Middle East. References - Click this link for more on Business in Dubai. Disclaimer - This article is a part of a featured content series on Business in Dubai.
India.com
3 days ago
- Business
- India.com
Cash-strapped Pakistan begs for another loan from..., to get Rs 46631675756 loan for...
(File) Pakistan loan: Cash-strapped Pakistan is literally forced to beg for a loan from various financial institutions each month as its crumbled economy is barely enough to keep the country running. According to media reports, the World Bank and the Asian Development Bank (ADB) have approved another $544 million loan for Islamabad for promoting education, and financial security and empowerment of women. World Bank, ADB approves $544 million loan for Pakistan On Wednesday, the World Bank approved a $194 million loan for Pakistan and signed a $350 million loan agreement with ADB to promote financial inclusion and economic empowerment of women. As per a report by Pakistan based Samaa TV, the World Bank loan is meant for two projects– promoting new educational opportunities to children in the restive Balochistan province, and strengthening the country's water security. According to Najy Benhassine, the Country Director for Pakistan for the South Asia region at the World Bank, the primary goal of the project is to improve education opportunities for underprivileged children Balochistan. Additionally, the water security project is aimed to deal with climate change crisis in Balochistan, while the investment in infrastructure and human development will create employment opportunities in the province, the World Bank officer added. The agreement under the Women's Inclusive Finance (WFI) Sector Development Programme was signed on Tuesday by Sabina Qureshi, Additional Secretary, Economic Affairs Division, and Dinesh Raj Sivakoti, Head of Project Administration Unit, Radio Pakistan reported. 'The program will provide women with ample opportunities to better access financial services, expand business opportunities and create new employment opportunities,' the report said. WIF's Sub-Program-2 focuses on four major reform areas, including creating an enabling policy and regulatory environment for the financial inclusion of women, increasing finance for women, strengthening women entrepreneurship capacity and promoting inclusive and equitable workplaces within the financial sector. Pakistan's debt surges to 76,000 billion (PKR) Meanwhile, despite the constant cash-infusion from financial bodies, Pakistan's total debt has surged to 76,000 billion Pakistani rupees in the first nine months of the current financial year, and its economy is expected to grow at a nominal 2.7 percent during the current fiscal, according to the Economic Survey 2024-25 released on June 9. Last year, Pakistan signed a $7 billion External Fund Facility (IFF) loan agreement with the International Monetary Fund (IMF) last year. The second tranche of the loan was disbursed in May this year.
GMA Network
3 days ago
- Business
- GMA Network
Dizon: DOTr proceeding with gov't plan to privatize MRT3, LRT2 ops
Amid the recent technical glitches which limited the train trips of the Light Rail Transit Line 2 (LRT-2), Transportation Secretary Vince Dizon on Thursday said the government's is moving forward with its plan to hand over the operations of LRT-2 as well as Metro Rail Transit Line 3 (MRT-3) to the private sector. 'Alam ninyo, hindi ganoon kadaling ayusin itong mga sistemang ito. Ang pangmatagalang solusyon talaga dito ay dapat [privatized] na itong mga sistemang ito kagaya ng LRT-2 at MRT-3. Iyon talaga ang pangmatagalang solusyon dahil habang ang gobyerno ang nag-o-operate nito, limitado tayo ng budget, limitado rin tayo ng ating mga procurement rules. Ibig sabihin niyan, hindi ganoon kabilis ang ability natin na mag-ayos nitong mga sistemang ito kaya iyon talaga ang ultimate solution,' Dizon said at a Palace press briefing. (You should understand that it is not easy to fix these systems. The long term solution should be to privatize systems such as the LRT-2 and MRT-3. That is the long lasting solution because while government is operating these, we are limited by procurement rules. This means we are hampered in our ability to repair these systems so [privatization] is the ultimate solution.) The previous leadership of the Department of Transportation (DOTr) had been vocal about privatizing the operations and maintenance of LRT-2 and MRT-3. The DOTr tapped the Asian Development Bank (ADB) for the MRT-3's PPP or public-private partnership plan, and the World Bank's International Finance Corporation for the LRT-2 PPP initiative. 'So, for LRT-2, mayroon tayong planong i-PPP na ito sa susunod na taon. Tinutulungan tayo ng International Finance Cooperation ng World Bank para mabilisan nang ma-PPP ito. Ang MRT-3 naman, tinutulungan tayo ng Asian Development Bank para ma-PPP na rin ito at tuluy-tuloy na rin ang maayos na pag-operate at maintain nitong dalawang luma nang linyang ito,' Dizon said. 'Ang pagkakaalam ko, within [this year] ay masisimulan na natin ang proseso dahil ito ay ibi-bid out natin as a PPP,' he said. ('So, for LRT-2, we have the PPP plan for next year. The International Finance Cooperation of the World Bank is helping us to expedite the PPP. For the MRT-3, the Asian Development Bank is assisting us for the PPP so the operation and maintenance of these two old lines could be improved. As I understand it, we could start bidding out the PPP within this year.) The Transportation chief assured the public that there will be no immediate increase in fares once the two railway systems' operations are taken over by the private sector. 'Hindi ibig sabihin na 'pag nag-PPP tayo ay ganoon-ganoon na lang ang pagtaas ng presyo, dahil ang gobyerno pa rin ang magre-regulate sa fares ng mga train natin, kasama na dito ang LRT-2 at MRT-3, kaya makakaasa parin ang mga kababayan natin na hindi naman ganoon magiging kataas ang magiging pamasahe kahit na maging private na ang operator nitong mga train system na ito,' Dizon said. ('The PPP does not mean immediate fare increases, the government will still regulate the fares of our trains, these include LRT-2 and MRT-3, the public can still expect the fares will not be that high even if a private operator takes over these train systems.) —RF, GMA Integrated News
Bloomberg
3 days ago
- Business
- Bloomberg
ADB on APAC's Geopolitical Risks
The China Show Asian Development Bank's Scott Morris thinks the geopolitical and economic outlook for the Asia Pacific region remains challenging due to an ongoing trade war and recent developments in the Middle East. Morris spoke to The China Show out of the AIIB annual meeting in Beijing. (Source: Bloomberg)
