Asia Pacific round-up: AIIB will not negatively impact BRICS Development Bank says China, and more

3 Jul 15

3 July 2015

A round-up of recent public finance stories from Asia Pacific you might have missed.

AIIB will not negatively impact BRICS Development Bank: China

China said the Asian Infrastructure Investment Bank (AIIB) will not negatively affect BRICS New Development Bank and the two will play a complimentary role in funding infrastructure development in Asia. (Economic Times)

 

China PBOC says made $25bn loan to China Development Bank

China’s central bank extended $25bn in subsidised loans to its top development bank last month in yet another attempt to lift its flagging economy and increase funding for sectors feeling the pinch. (Reuters)

 

World Bank to lend $650m for Indian rail project

The World Bank said it had cleared a $650m loan for a huge Indian freight rail corridor that will span 1,840 kms (1,140 miles) across the northern heartland of the country. (Reuters via Times of India)

 

Philippines: public spending for infrastructure, capital outlay up 40% in April

Public spending for infrastructure and capital outlay surged by more than 40% to P23.3 billion in April as the government tried to catch up on disbursements which had been anemic in the past months, the Department of Finance reported yesterday. (Philstar)

 

New Zealand government finances massive funding to boost road transport

The New Zealand government announced the country's largest-ever land transport spending program, promoting big increases in cycling and public transport spending. (Global Post)

 

IMF says Australia needs fiscal stimulus

As Australia grapples with the unwinding of its biggest-ever resources investment boom, the government is tightening its purse strings rather than helping shore up economic growth. (Malay Mail Online)

 
  • Judith Ugwumadu
    Judith Ugwumadu

    Judith writes about public finance, public services and economics across Public Finance International and Public Finance. She previously undertook reporting stints at Financial Adviser, Global Security Finance and The Sunday Express.

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