A new report from the Asian Development Bank says lagging Asian economies should pick up steam in the coming year. The latest Asian Development Outlook Supplement predicts that developing Asia will post a growth of 6 percent in 2012 and 6.6 percent in 2013, about a tenth of a percentage point lower than anticipated in October. 

The report said vigorous private consumption in Southeast Asia and a mild economic recovery in China nearly balance out the weaknesses in India's economy. 

The report also said economic weakness in Europe and the looming fiscal cliff in the U.S. remain very real threats to developing Asia next year.

 Union Minister of Finance, P. Chidambaram has been appointed India’s Governor on the Board of Governors of the African Development Bank and African Development Fund, with effect from 1st August, प्रतिनिधिरूपvice Mr. Pranab Mukherjee. Arvind Mayaram, Secretary, Department of Economic Affairs, has been appointed as India’s alternate Governor on the Board of Governors of the African Development Bank and African Development Fund with effect from 1st August, vice Mr. R. Gopalan.

India and the Asian Development Bank, ADB, have signed a 67.6-million US Dollars loan agreement to support agriculture and boost investment for agri-business infrastructure in Bihar. The loan will help expand agricultural value chains and facilitate better linkages for small scale farmers with processors, agri-business entrepreneurs and service providers in Muzaffarpur and Patna-Nalanda regions of the state.

This will help farmers, traders and other value chain stakeholders to improve their products and processes, become competitive and adapt to changes in end markets. The programme will also enhance livelihoods by benefitting farmers, the landless poor and women through creation of additional employment opportunities.

The loan is the first tranche of a 170-million US Dollars multi tranche financing facility under the Agribusiness Infrastructure Development Investment Programme. The programme was approved by the ADB Board in September 2010 to boost private sector investment in agri-business infrastructure in selected regions of Bihar and Maharashtra.

According to an official release, the loan agreement was signed between Joint Secretary in the department of Economic Affairs Venu Rajamony and ADB country director Hun Kim. Speaking on the occasion, Mr Rajamony said, the programme will promote a more inclusive agri-business value chain and efficient market-oriented farming among small landholder farmers. He said that the programme aims to leverage private sector investment and management into agri-business infrastructure through a public-private partnership mode.

Mr. Kim said the investment programme will help scale-up future models for agribusiness operations in the country

The OPEC International Development Fund (OFID) has agreed to provide a loan of 20 million dollars to Nepal . The assistance is for the implementation of the Rural Connectivity and Community Development Project. An agreement to this effect was signed between the representatives of government of Nepal and OFID at Vienna , Austria recently. The Rural connectivity project co- financed by the Asian Development Bank aims at improving the connectivity of rural communities , enhancing economic and employment opportunities and increasing access to market and social sectors. The loan assistance received as co-financing from the OPEC Fund for International Development Fund will be utilized to promote rural economic and social development through small-scale infrastructure and capacity building sub-projects.  The project will be implemented across eighteen low-income, remote, mountainous districts of Nepal from the east to the far west . Some 1.5 million people are expected to benefit from the project. Emphasis will be placed on strengthening the capacities of communities and integrating the poor and women into the mainstream of development activities which is to be completed in December 2016 . OFID has provided support to Nepal since 1976, having co-funded a wide range of projects supporting sectors ranging from agriculture, energy and transportation, to water supply and sanitation and education, among others.

Assam government will soon start a project to reclaim parts of the land eroded by river. The low -cost project will be implemented at Sualkuchi area in Kamrup district as pilot basis with the support of Asian Development Bank. The Chief Minister Mr. Tarun Gogoi revealed this in Guwahati yesterday.

Assam will be the first state to initiate a project to reclaim eroded land. The state has 44 erosion prone rivers in Brahmaputra valley. Assam lost an area of 4 lakh bighas of land in the last 40 years due to erosion. 

Under the new project, low cost zack zetty will be used instead of the traditional porcupines which are more expensive to control flood and erosion. The technology will also be employed to channelize the river Brahmaputra. 

Assam government is also likely to send three teams for exposure visit to Bangladesh to learn about the new technology in controlling flood and erosion. 

Apart from it, Assam government will set up a River Research Centre in Guwahati for further research on the river Brahmaputra.

The Asian Development Bank, ADB has warned that Asia's rapid economic growth may undermine stability of economies because the gap between the rich and poor is widening. 

The annual report, released by the Bank said, a key inequality measure has increased to an average reading of 38 in Asia. 

Asia's figure is climbing as it declines in the other regions like latin America and Africa. 

Speaking to reports ADB Chief Economist Changyong Rhee said that the inequality is significantly increasing in China, India and Indonesia. 

The sudden explosion of growth and rapid enrichment of many people over the past decade was the reason for growing inequalities between the rich and poor. 

Access to education, healthcare and housing has become more difficult and expensive for millions of people, he added.