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Financing Development Cooperation in Northeast Asia

Masahiro Kawai ()

No 407, ADBI Working Papers from Asian Development Bank Institute

Abstract: Infrastructure connectivity in Northeast Asia—comprising the northeastern People’s Republic of China, Japan, the Democratic People’s Republic of Korea, the Republic of Korea, Mongolia, and the Russian Far East—has been hindered by limited intergovernmental cooperation. The paper finds that total infrastructure investment needs for Northeast Asia excluding Japan and the Republic of Korea (in transport, energy, information and communication technology, and the environment) could be $63 billion per year over the next 10 years. Of this total, $13 billion would have to be mobilized every year from external sources. The paper considers three options to fund these needs in addition to traditional financing by bilateral and multilateral agencies: (i) special and/or trust funds newly set up in existing multilateral development banks (MDBs), (ii) a structured infrastructure investment fund supported by MDBs, and (iii) a new subregional multilateral development bank. It suggests that the first two have potential, but recommends against establishing a new development bank.

Keywords: infrastructure development and connectivity; subregional cooperation programs in asia; northeast asian infrastructure forum; northeast asian infrastructure fund (search for similar items in EconPapers)
JEL-codes: F15 F36 F55 O19 Q01 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2013-02-17
New Economics Papers: this item is included in nep-cdm, nep-cis, nep-ppm and nep-sea
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Journal Article: Financing Development Cooperation in Northeast Asia (2013) Downloads
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Working Paper: Financing Development Cooperation in Northeast Asia (2013) Downloads
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