Meeting Asia's Infrastructure Needs

,

doi:10.22617/fls168388-2

Cited by 97 publications

(5 citation statements)

References 11 publications

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“…ADB puts the region's need to invest in infrastructure even higher, at $1.5 trillion per year up to 2030. 7 The bulk of such spending will be the responsibility of local governments. How should they finance it, after a pandemic that has depressed their tax revenues?…”

Section: Beyond Central Governments: Keeping Subnational Debt In Checkmentioning

confidence: 99%

Overview and synthesis

Ferrarini¹

2022

The Sustainability of Asia’s Debt

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Section: Beyond Central Governments: Keeping Subnational Debt In Checkmentioning

confidence: 99%

Overview and synthesis

Ferrarini¹

2022

The Sustainability of Asia’s Debt

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“…Canada is a well-organized and wealthy urban region with a 2016 population of 2.45 million, an annual average population growth rate of 2% (1970 to 2011) that is fully sewered, but struggling to meet the goal of replacing 1% of its combined sewers per year (initiated in the 1970s) [37]. Likewise, according to the Asian Development Bank, Asia needs to invest $53 billion on water and sanitation and $1.7 trillion per year (2015 USD) on infrastructure overall to maintain growth, a challenging proposition when only 5% of GDP was spent on infrastructure across the 25 Asian Development Bank developing member countries between 2010 and 2014 [38]. To put the Lagos estimates in context, the total revenues in the 2017 budget of the Lagos State government was 2.1 billion USD [33].…”

Section: Characterizing the Cost For Providing Conventional Sewer Systems To The Entire Population In Lagos By 2030mentioning

confidence: 99%

Conventional Sewer Systems Are Too Time-Consuming, Costly and Inflexible to Meet the Challenges of the 21st Century

et al. 2020

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There is an urgent need for innovation in the sanitation sector because the conventional model (toilet-to-sewer-to-treatment) is too time-consuming and costly, and alternatives are lacking. We estimate the challenge ahead by developing scenarios for 60 of the fastest-growing urban conglomerates in the World. We find that the majority would need to build out their sewer systems at a rate that is ten to 50 times higher than the highest rate for any project in the World Bank’s database, which is unrealistic. We also carry out a case study of Lagos, Nigeria, which suggests that, in any given year, 14–37% of Lagos State’s budget would need to be invested to provide sanitation to the presently underserviced population while keeping up with population growth, which also is unrealistic. Our study provides clear evidence that the conventional model for sanitation is unworkable for rapidly growing urban areas. We conclude there is an urgent need to encourage and fund projects that promote innovations that can tackle the three core challenges: can be built sufficiently quickly, are flexible, and affordable. This is not likely to happen unless the future generation is systematically trained and educated to creatively support innovation in sustainable sanitation.

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“…Asia alone needs to invest US$26 trillion in new infrastructure by 2030 to maintain its economic growth and pace of poverty reduction. 7 Beyond the initial investment in high-quality infrastructure, managing this growing exposure to shocks efficiently requires investing in sufficient operations and maintenance throughout the life of the assets, as well as financial mechanisms to absorb losses that cannot be avoided. Self-insurance and market-based risk transfer help governments smooth expenditures on asset rehabilitation and reconstruction.…”

Section: Integrating Planning For Physical Shocks In Fiscal Frameworkmentioning

confidence: 99%