ADB pushes private sector role on transport infra

“In countries like Vietnam, Indonesia and Philippines, we are setting up PPP offices to provide financing on projects.” ADB President TAKEHIKO NAKAO

Manila -- Countries in the Asia Pacific region should craft policies that enable the growth of private sector participation on transport infrastructure projects, the Asian Development Bank (ADB) said.

ADB President Takehiko Nakao said the private sector has a significant role on infrastructure development in Asia due to their expertise and capability to develop new technologies in transportation.

“We support enacting a PPP law. We need a clear set of framework for private sector to join in PPP (public-private partnership) work. In countries like Vietnam, Indonesia and Philippines, we are setting up PPP offices to provide financing on projects,” Nakao said during a transport forum hosted by the ADB in its headquarters at Ortigas Center, Mandaluyong City on Wednesday.

“PPP is important because it is directly connecting financial resources of private sector together with the expertise of doing things,” he added.

The ADB is eyeing to increase private sector lending in countries that have significant infrastructure needs.

“We are now targeting smaller economies in more challenging conditions. It is important to promote the private sector through our lending and creating investments in these countries,” Nakao said.

Transport infrastructure is important as it promotes systems that are safe and accessible for all, Nakao added. /