28.02.201703:50:00UTC+00Asia needs to bolster infrastructure spending, says ADB

Asian nations will need to inject around $26 trillion until 2030, or invest $1.7 trillion yearly, to fulfill the region's infrastructure efforts and retain its traction, according to the Asian Development Bank's study.

The bank noted Tuesday there is still a crucial infrastructure gap amidst lowered poverty rate, a significant proliferation in infrastructure advancement which has ignited an economic surge, and improvement among people's lives.

It reported over 400 million people still lack access to power supply, 300 million people do not have access to safe drinking water, and some 1.5 billion people are in need of basic sanitation.

According to ADB President Takehiko Nakao, the infrastructure demand throughout Asia exceeds current supply. He added the region should have fresh and improved infrastructure in order to establish the norm for quality, spur expansion, and respond to challenges related to climate change.