The Asian Development Bank this week opened a new office to provide independent advisory services for public-private partnerships in a bid to increase, improve and cultivate this development model — which ADB President Takehiko Nakao fully supports to fill investment gaps, create jobs and reduce poverty in Asia-Pacific.
Although PPPs are by no means a new thing in the international development sector, the potential of engaging the private sector has yet to be fulfilled, and the Manila-based institution wants to change that as part of the bank’s Strategy 2020 development blueprint for the region.
“[The] PPP model is important and its potential is huge for further development,” Ryuichi Kaga, head of the newly established PPP office in ADB, told Devex. “The objective of this office is to achieve the PPP operational plan designed under the Strategy 2020.”
About the author
Lean Alfred Santos@DevexLeanAS
Lean Alfred Santos is a former Devex development reporter focusing on the development community in Asia-Pacific, including major players such as the Asian Development Bank and the Asian Infrastructure Investment Bank. He previously covered Philippine and international business and economic news, sports and politics.
