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This publication analyzes the evolution of Central Bank Digital Currencies (CBDC) in Asia and the Pacific, assesses their potential risks and technical challenges, and shows their potential to improve cross-border payments and financial inclusion.Ahead of the launch of any large-scale Asian CBDC, it details various models and explores how Cambodia, the People's Republic of China, Singapore, and Thailand are taking the lead. Outlining global developments and emerging trends, it shows why a robust digital infrastructure, strong public-private collaboration, and fintech literacy are central to ensuring CBDCs help drive the transition to a digital economy.

This report explores Uzbekistan's nascent technology start-up ecosystem, outlines hurdles entrepreneurs face to turn ideas into viable businesses, and offers practical ways to create the environment they need to thrive.Analyzing start-ups focused on agriculture, education, health, and the environment, the report explains the need to bolster talent, increase access to funding and incubator programs, and find fresh ways for the government to lend support. It shows how increasing grants, starting a national investment fund, and engaging foreign expertise will encourage entrepreneurs to build and scale up new businesses while helping diversify Uzbekistan's economy. It is the ninth country report in the series Ecosystems for Technology Startups in Asia and the Pacific.

This report assesses relief programs established by Nepal during its 2020 COVID-19 lockdown to mitigate food insecurity among vulnerable groups, analyzes their effectiveness, and recommends ways to make them more responsive and resilient.Outlining how Nepal strategically engaged the private sector, it explains the process of selecting eligible households, the challenges of food distribution, and shows how the program addressed issues such as gender and inclusion. It makes a series of recommendations including strengthening local capacity, harnessing data to identify vulnerable groups, and implementing disaster response mechanisms to help Nepal better manage future crises.

The Policy Actions for COVID-19 Economic Recovery (PACER) Dialogues was launched in June 2020 as the coronavirus disease (COVID-19) pandemic accelerated around the world.The PACER Dialogues share cutting-edge knowledge and best practices to help countries in Southeast Asia and the People's Republic of China strengthen cooperation to mitigate the devastating effects of COVID-19 and accelerate their economic recovery. This second compendium of nine policy briefs summarizes the discussions, recommendations, and actionable insights from the PACER Dialogues held from February 2021 to July 2022.

This report assesses climate finance in Asia and the Pacific and analyzes how it can be harnessed by developing member countries to expand climate action and spur low-carbon, resilient growth. Designed to help governments and development partners identify and address barriers, it offers a subregional breakdown and underscores the need for equitable access to funds to help countries meet their climate targets. It assesses financing gaps, considers how to increase investment, and outlines ways to scale up climate finance so that it reaches the countries and sectors that need it most.

Outlines how sector agencies in South Asia can develop gender equality and social inclusion (GESI) strategies, highlights their key elements, and shows how to effectively integrate them into projects and policies. Offers tips on how to adopt participatory processes to help develop and implement inclusive frameworks.

This edition presents recent developments in emerging East Asian local currency bond markets and features a special section about how increased climate risk awareness can influence investors' trading decisions.Bond yields in emerging East Asia declined from March to May amid easing inflationary pressures in the region and slower monetary tightening in the United States. The region's local currency bond stock grew 9.1% from a year earlier to $23.8 trillion at the end of March. The increase was largely driven by governments frontloading debt issuance to finance programs to support economic recovery. Corporate bond issuance remained moderate, partly due to higher interest rates.

Pacific economies are bouncing back as tourism recovers and infrastructure projects resume, but inflationary pressures and vulnerability to natural hazards remain downside risks.This edition of the Pacific Economic Monitor tracks the rebound of some tourism-dependent economies; explores new opportunities from agriculture, digitalization, and fisheries; and analyzes ways to mitigate fiscal risks and support sustainable economic growth. It highlights how policies can better support women entrepreneurs and how strengthening fiscal reserves can help countries recover more quickly from shocks.

This Energy Sector Directional Guide provides the strategic direction of the Asian Development Bank (ADB) for the energy sector.This sector guide describes the context and rationale that will guide ADB's agenda in supporting developing member countries (DMCs) with financing, knowledge, convening ability, and technical assistance (TA) to ensure improved coherence, relevance, efficiency, and effectiveness of ADB's energy sector investments. The guide also outlines the priorities and focus for the energy sector in line with Strategy 2030.This sector guide is designed to be a living document, to be updated as needed to remain relevant to the dynamic development context of Asia and the Pacific. A midterm review is to be conducted following the expected review of the Energy Policy in 2025.This guide is volume 2 in the seven-volume collection, Strategy 2030 Sector Directional Guides.

Analyzing the potential of carbon capture, utilization, and storage (CCUS) to secure a low-carbon environment for Asia and the Pacific, this Asian Development Bank (ADB) compendium features 11 CCUS technologies and tools.As ADB strives to facilitate this low-carbon future for the region within the next half of this century, the compendium explores how CCUS can enhance sustainable energy security and compliance with international commitments, while decarbonizing industries-without substantial disruptions to existing operations. Featuring technical, economic, and financial insights into pioneering technologies, the publication encourages collaborations between ADB members and stakeholders to nurture such urgently required innovations.

This tool kit explores some of the key attributes of potential and existing emission trading systems, carbon taxes, and fossil fuel subsidies rationalization programs in Asia and the Pacific and other emerging countries.It aims to guide policymakers in the Asian Development Bank's developing member countries to effectively design, implement, and manage the interplay of carbon taxes, emission trading systems, and fossil fuel subsidies reduction programs. The tool kit provides illustrative case studies as examples of the problems governments have encountered in implementing these programs and the solutions they have found to address these issues.

Analyzing how the role of ASEAN economies in global value chains has helped spur their recovery and cut poverty, this publication shows the need to future-proof these critical networks to ensure inclusive, sustainable, and greener growth.It explains how the expansion of cross-border trade networks has helped Southeast Asian economies bolster manufacturing and spark a wave of job creation and innovation. On the flipside, it considers the associated environmental impact and social inequality. Highlighting systemic shocks to global trade, it explains how economic momentum, stronger institutions, and more inclusive growth can help mitigate risks and build resilient economies.

This report uses a broad range of indicators to assess the individual and collective development progress made by the Association of Southeast Asian Nations (ASEAN).Building on a previous study released in 2014, it assesses 39 indicators that consider dimensions such as overall human development, gender equality, climate change, and living conditions. The report intends to help policy makers pinpoint priority development interventions and to align strategies to support regional recovery from the COVID-19 pandemic. It highlights the need for the 10 ASEAN member states to increase investments in areas such as skills development, education, health, and nutrition.

This report examines the growing technology startup scene in Indonesia, assesses the challenges and opportunities for new ventures, and identifies ways to boost the ecosystem and drive social and economic growth.Drawing on interviews with founders and other stakeholders, the report analyzes the prospects for tech startups in agriculture, the green economy, health, and education. It examines the active role of government and looks at funding options, including venture capital. It explains why it is difficult for founders to obtain funding in the early stages of development and outlines how Indonesia can develop its talent pools and provide support to help its startups survive and thrive.

The new Asian Development Bank (ADB) Energy Policy, approved in October 2021, guides ADB's energy sector operations to support energy access improvement and low-carbon transition in Asia and the Pacific.It is consistent with ADB's Strategy 2030, the Sustainable Development Goals, and the Paris Agreement on climate change and anchored on five principles: (i) securing energy for a prosperous and inclusive Asia and the Pacific; (ii) building a sustainable and resilient energy future; (iii) supporting institutions, private sector participation, and good governance; (iv) promoting regional cooperation and integration; and (v) maximizing development impact through integrated cross-sector operations.

This guide provides practical tips for addressing menstrual health as part of urban development, water, and sanitation work in the Pacific to promote gender equality and well-being.It outlines the need to improve education about menstruation, eliminate stigma and discrimination, and boost access to sanitation facilities to support inclusive development and economic growth. It identifies how project design and implementation can immediately strengthen menstrual health. While the guide is intended to inform projects supported by the Asian Development Bank, it will also be relevant to other urban development and water, sanitation, and hygiene interventions.

This publication outlines why post-disaster needs assessments (PDNA) should provide comprehensive details of the economic and social impacts of disasters on countries to swiftly mobilize resources and support resilient recovery.Using a theoretical case study highlighting the aftermath of an earthquake and subsequent flooding, the publication shows how the cost to property, infrastructure, and production can be calculated and built into a PDNA. It illustrates why PDNAs should consider key sectors such as health and energy, and factor the macroeconomic and personal impacts of catastrophic events into the total estimate of post-disaster recovery and reconstruction.

This report reveals how state-owned enterprises (SOEs) in Asia's emerging economies can play a key role in helping to tackle climate change and biodiversity loss, by using green bonds to upgrade their economic activities from polluting to green. The report explores how SOEs can develop and deploy sustainable financial instruments, in particular green bonds, to help finance their green transition. To accelerate the successful adoption of green finance tools in Asia's emerging economies, the publication examines how their SOEs can improve operations to make better use of green capital markets, enabling a healthier environment and a more resilient future.

As fast-evolving education technology (EdTech) revolutionizes learning, this report examines the evidence for effective digital learning, the key interventions and innovations in education technology, and how best to implement effective digital transformation initiatives in the education sector.Outlining how rapid technological advances are disrupting the employment landscape and creating a skills gap challenge, it sets out ways EdTech can be rapidly scaled up and integrated into national education strategies. Explaining how education technology is already driving a shift away from teacher-centric learning, the report offers tools to assess digital education readiness and shows why the ecosystem approach is essential to transform and reimagine learning.

For tackling complex global challenges, this publication advises how a Gateway Process (GP) can help the Asian Development Bank's developing member countries channel scarce public resources into viable, sustainable, efficient infrastructure investments.Supporting ministries of finance and related agencies, the publication explains how GPs can enhance the preparation, procurement, and execution of public-private partnership projects, as well as traditional public investment projects. To advance the environmental, social, and fiscal priorities of diverse economies and build institutional capacities, the publication describes an adjustable GP model-allowing policymakers to develop bespoke GPs within broader public investment management strategies.

This publication is designed as a field kit to help Nepal's Kathmandu Upatayaka Khanepani Ltd. (KUKL) follow standard environmental planning, monitoring, and reporting in its work to supply water and sanitation to the Kathmandu Valley.Practical and detailed, the kit will support the Project Implementation Directorate of KUKL as it works to prepare the environmental safeguard documents and build structured monitoring tools to ensure sustainable infrastructure development practices. Including outlines for environmental assessments, management plans, and bidding documents, it offers readily accessible forms and templates to support overall project implementation uniformity and quality, and will serve as a useful resource for other stakeholders.

This publication examines well-being across Kazakhstan's regions. It suggests how a deeper understanding of regional differences can help policymakers tailor interventions and promote more equitable development. The publication shares findings from a study that used data from a 2022 survey of well-being across Kazakhstan to create two indices. One index measures people's subjective well-being and the other combines perceptions data with objective socioeconomic data to build a broader picture of well-being. The authors analyze regions' index scores and suggest how policymakers can use an understanding of regional differences in well-being to contribute to more equitable, inclusive, and sustainable development in Kazakhstan.

As Bangladesh builds on a decade of strong economic growth, this executive summary explains why creating an economic corridor can drive the massive structural transformation it needs to ensure its development is sustainable and equitable.Detailing the reasons behind its growth, it explains how a Bangladesh Economic Corridor (BEC) would benefit its northeast and southwest regions, which have long suffered from poor economic development and inadequate infrastructure. It outlines how a BEC would help develop core industries, boost connectivity, and improve critical infrastructure, as Bangladesh looks to harness technology to create millions of new jobs and accelerate its economic growth.

This report assesses the current ecosystem for tech startups in the Philippines, focusing on four sectors: climate change, education, agriculture, and health. Technology-based startup enterprises are an increasingly important part of the business landscape in Asia and the Pacific. By applying innovative technologies to create new products and services, they can make a significant contribution to economic development while generating social and environmental benefits. However, to survive and then thrive, tech startups require an enabling ecosystem that includes supportive government policy, adequate access to capital, skilled personnel, quality digital infrastructure, and other elements. The report discusses challenges facing tech startups in these sectors and provides recommendations. It is the seventh country report in the series Ecosystems for Technology Startups in Asia and the Pacific.

This publication and accompanying summary materials highlight key messages from current research and data on women's economic empowerment in Pacific island countries. The analysis focuses on entrepreneurship and on micro, small, and medium-sized enterprises owned by women. Drawing on over 200 published papers and studies and 11 quantitative datasets, it looks at what fosters and what hinders women's economic empowerment in the Pacific. It considers business ownership, formalization, and expansion; violence against women and girls; and the effects of the COVID-19 pandemic. The materials include recommendations for research, policy, and programming.

This report shows how embracing digitalization can boost jobs in Pakistan's textile, garment, and information technology-business process outsourcing sectors and explains why policies should ensure the benefits are equitably distributed. Part of a wider Central and West Asia report on the Fourth Industrial Revolution (4IR), this report focuses on Pakistan's Punjab province where literacy levels are low and explains why workers will have to continuously reskill to get quality jobs. It recommends Pakistan adopt industry-specific 4IR roadmaps, strengthen training, and increase the number of women in technology as it targets inclusive, knowledge-based economic growth.

This report explains how Azerbaijan's fast-growing agro-processing, transportation, and storage industries can benefit from the adoption of digital technologies and outlines how to train the skilled workforce it needs for the new economy. Part of a wider Central and West Asia report on the Fourth Industrial Revolution (4IR), this report explains how greater digitalization will affect jobs and how Azerbaijan's government, industry, and the education sector can work together to spur growth. To help Azerbaijan capitalize on 4IR's benefits, the report offers recommendations that include helping businesses adopt technology, incentivizing them to train employees, and creating programs targeted at women.

This report analyzes how Uzbekistan's key textile, garment, and construction sectors will be impacted by its adoption of digital technologies and shows how better training can help offset potential job losses and boost economic growth. Part of a wider Central and West Asia report on the Fourth Industrial Revolution (4IR), this report outlines recommendations for Uzbekistan including developing online learning platforms and strengthening ties between industry and training institutions. Emphasizing the need to support small and medium businesses, it shows why ensuring workers acquire new digital skills and adapting national policies can help Uzbekistan capitalize on 4IR's potential benefits.

This report explains how the rapid adoption of digital technology in Central and West Asia can help unlock growth and shows why economies need to invest in training to build the skilled labor force needed for the jobs of the future. Focusing on Azerbaijan, Pakistan, and Uzbekistan, the report outlines how the pandemic sped up use of Fourth Industrial Revolution (4IR) technology and draws on policy reviews and employment data. It explores how fresh policies can help offset the challenges posed by 4IR and recommends ways to harness technology to increase growth, employment, and inclusive development.

This publication highlights brighter economic prospects for Asia and the Pacific amid ongoing challenges. It forecasts growth across the region's developing economies of 4.8% this year and in 2024, up from 4.2% in 2022.The reopening of the People's Republic of China (PRC) will boost regional economic growth through supply chain linkages and demand for goods and services. Growth in the PRC is expected to rebound to 5.0% this year from 3.0% in 2022. Healthy domestic demand in India will also support regional growth: India is forecast to grow by 6.4% in 2023. Growth in the Caucasus and Central Asia, the Pacific, and Southeast Asia will be lifted as tourism recovers. Meanwhile, headline inflation is expected to decelerate from 4.4% in 2022 to 4.2% this year and 3.3% in 2024.However, higher debt and interest rates have magnified financial stability risks, as evidenced by recent banking sector problems in the United States and Europe. An escalation in the Russian invasion of Ukraine could cause renewed surges in commodity prices, stoking global inflation and inducing further monetary tightening. Further, climate change and global fracturing remain persistent challenges. To confront these challenges, policy makers need to strengthen policies to ensure financial stability and actively support multilateralism to deepen regional cooperation.