• News
    • Latest news
    • News search
    • Health
    • Finance
    • Food
    • Career news
    • Content series
    • Try Devex Pro
  • Jobs
    • Job search
    • Post a job
    • Employer search
    • CV Writing
    • Upcoming career events
    • Try Career Account
  • Funding
    • Funding search
    • Funding news
  • Talent
    • Candidate search
    • Devex Talent Solutions
  • Events
    • Upcoming and past events
    • Partner on an event
  • Post a job
  • About
      • About us
      • Membership
      • Newsletters
      • Advertising partnerships
      • Devex Talent Solutions
      • Contact us
Join DevexSign in
Join DevexSign in

News

  • Latest news
  • News search
  • Health
  • Finance
  • Food
  • Career news
  • Content series
  • Try Devex Pro

Jobs

  • Job search
  • Post a job
  • Employer search
  • CV Writing
  • Upcoming career events
  • Try Career Account

Funding

  • Funding search
  • Funding news

Talent

  • Candidate search
  • Devex Talent Solutions

Events

  • Upcoming and past events
  • Partner on an event
Post a job

About

  • About us
  • Membership
  • Newsletters
  • Advertising partnerships
  • Devex Talent Solutions
  • Contact us
  • My Devex
  • Update my profile % complete
  • Account & privacy settings
  • My saved jobs
  • Manage newsletters
  • Support
  • Sign out
Latest newsNews searchHealthFinanceFoodCareer newsContent seriesTry Devex Pro
    • News
    • #DevexForum

    ADB: No longer the only player in town

    A new China-led bank that aims to address infrastructure gaps in Asia is steadily taking shape. In a video conversation with Devex, Stephen Groff, the Asian Development Bank's vice president for operations, shares why ADB can't "serve all the needs of Asia."

    By Aimee Rae Ocampo // 11 June 2014

    ADB ‘not the only game in town anymore’ — Stephen Groff

    As the China-led Asian Infrastructure Investment Bank is steadily taking shape, Devex asked Stephen Groff, vice president for operations at the Asian Development Bank, how this new regional development bank will affect the Manila-based institution.

    At the latest Asia-Pacific Economic Cooperation Summit in Bali in October, Chinese President Xi Jinping proposed creating an infrastructure development bank for Asia. Back then, the bank seemed like a pipe dream. But as details emerge on how the bank will be funded and structured, the tentatively called AIIB may now be established sooner than people thought.

    So what does the ADB — the premiere multilateral development bank in and for Asia — think about this new China-led infrastructure development bank?

    “I think that certainly there’s a demand within the region for different types of instruments and different types of support,” Groff told Devex President and Editor-in-Chief Raj Kumar in a video conversation at the sidelines of the Devex Partnerships Forum in Manila.

    “If you look at the need for infrastructure investment in Asia as a whole, developing Asia as a whole, it’s about $8 trillion between now and 2020,” Groff pointed out, stressing that ADB’s $15 billion annual investment in infrastructure won’t be enough to “serve all the needs of Asia.”

    Groff warned, however, that for these infrastructure investments to be sustainable and create the impact they were designed to achieve, safeguards are needed.

    Watch the above video to find out more insights from Groff on other sources of infrastructure funding in Asia and why he thinks safeguards are “critically important” for these investments.

    See our Devex Partnerships Forum topic page, check out our Storify page and tweet #DevexForum!

    Read more development aid news online, and subscribe to The Development Newswire to receive top international development headlines from the world’s leading donors, news sources and opinion leaders — emailed to you FREE every business day.

    • Banking & Finance
    • Infrastructure
    Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).

    About the author

    • Aimee Rae Ocampo

      Aimee Rae Ocampo

      As former Devex editor for business insight, Aimee created and managed multimedia content and cutting-edge analysis for executives in international development.

    Search for articles

    Related Stories

    Climate FinanceIs ADB still Asia and the Pacific’s ‘climate bank’?

    Is ADB still Asia and the Pacific’s ‘climate bank’?

    Devex NewswireDevex Newswire: Rhino Bonds and mega-ports — the private sector steps up

    Devex Newswire: Rhino Bonds and mega-ports — the private sector steps up

    Devex NewswireDevex Newswire: To save foreign aid, start with Republicans

    Devex Newswire: To save foreign aid, start with Republicans

    Devex InvestedDevex Invested: African nations see a silver lining after aid cuts

    Devex Invested: African nations see a silver lining after aid cuts

    Most Read

    • 1
      Opinion: How climate philanthropy can solve its innovation challenge
    • 2
      The legal case threatening to upend philanthropy's DEI efforts
    • 3
      Closing the loop: Transforming waste into valuable resources
    • 4
      How is China's foreign aid changing?
    • 5
      Why most of the UK's aid budget rise cannot be spent on frontline aid
    • News
    • Jobs
    • Funding
    • Talent
    • Events

    Devex is the media platform for the global development community.

    A social enterprise, we connect and inform over 1.3 million development, health, humanitarian, and sustainability professionals through news, business intelligence, and funding & career opportunities so you can do more good for more people. We invite you to join us.

    • About us
    • Membership
    • Newsletters
    • Advertising partnerships
    • Devex Talent Solutions
    • Post a job
    • Careers at Devex
    • Contact us
    © Copyright 2000 - 2025 Devex|User Agreement|Privacy Statement