joined now by business is clifford coonan who has long experience covering china clifford the asian development bank isn't the only multinational lender that signal close look at chinese status is that's right the world bank is also examining it now and i think people are das questions about do we really need to be lending money to china when as we saw last week we have the belgian road forum in beijing of which china highlighted how it's lending money to other countries in the region and to build its influence and to to move into other parts of the world so i think people are wondering now what is going to happen with with lending and china now the a.t.p. says that it will keep lending for climate change product projects in this case talk about china is that something that's just really needed in china or is this just sort of a face saving measure to keep lending to them but i think as we saw in the in the report just there you could see the era beijing i mean pollution it got a lot better for the environment is very much on everyone's mind so i think projects towards environmental issues are somet

business of asia i'm stephen beard's in berlin thanks watching the annual meeting of the asian development bank is underway on the island of fiji the finance ministers and central bankers from a lender sixty eight member countries are in attendance so far two issues have dominated the agenda first a debate about whether china is now too rich to need funds from the bank the second an even longer term question how to stave off the most devastating effects of climate change take a look. whether it's forest fires extreme drives or hurricanes wreaking havoc the devastating consequences of climate change are already plain to see in the coming decades the effects are expected to intensify. pacific islands like fiji the host of this year's asian.

still in need of cheap credit that's one of the big questions at the annual meeting of the asian development bank were members note that beijing itself is lending to countries around the world. and today marks the end of u.s. waivers for importers of a ranee an oil that stands to be a major blow to tehran what it tighten sanctions mean for major economies like india and china. also on the show france and germany team up to subsidize battery cell production they call it a strategic investment in the face of tough asian competition others call it a waste of money. and you're watching the business of asia i'm stephen beard's in for lent thanks watching the annual meeting of the asian development bank is underway on the island of fiji finance ministers and central bankers from the lenders sixty eight member countries are in attendance so far two issues have dominated the agenda first a debate about whether china is now too rich to need funds from the bank the second and even longer term question how to stave off the most devastating effects of climate change it's a look. whether it's forest fire is e

except the asian development bank suspended funding for the project and worrying has stopped. which has left some without work on the other leg. what i would like to demand now is to restart the mining process we've been praying for this and people work in mining their livelihood is in good condition but now they're facing challenges everyone is in a difficult situation. numerous attempts to contact the china road and bridge corp were unsuccessful civil society groups say the chinese state owned company has been doling out excuses instead of compensation. they chose to disobey laws that are already in place with the c.r.b. c came to construct the road they didn't respect the rights of the local population . while smaller quarries continue to supply road builders observers say large scale projects in korean state should wait until a final peace agreement is reached between the government and the region's armed ethnic groups until then a project meant to unite is instead sowing seeds of division. and disease. now south korea is the place to be if you want to get a glimpse of the

the fifty second annual meeting of the asian development bank kicked off on the island nation of fijion wednesday the theme for this year's gathering is prosperity through unity delegates attending the meeting will include sixty eight member countries both within and outside the pacific asian region they will meet through sunday among the agenda items for the a.t.b. die. again it's are some significant initiatives on climate change and plastic pollution in oceans that a.t.v. is now planning to spend eighty billion dollars by two thousand and thirty to mitigate climate impacts on asian countries the summit host like many countries in the region is extremely vulnerable to rising sea levels as warmer temperatures continue to melt glaciers and polar ice caps earlier today the eighty launched their planned action plan for healthy oceans and sustainable blue economies the plan calls for the a.t.p. to spend five billion dollars in the next five years to fight marine plastic lucian which they say threatens the regional marine economies. cryptocurrency is finally gaining legitimacy after years

the asian development bank suspended funding for the project and worrying has stopped which has left some without work on the other leg or on how knowing what i would like to demand now is to restart the mining process we've been praying for this and people work in mining their livelihood is in good condition but now they're facing challenges everyone is in a difficult situation. numerous attempts to contact the china road and bridge corp were unsuccessful civil society groups say the chinese state owned company has been doling out excuses instead of compensation. they chose to disobey laws that are already in place when the c.r.b. seek came to construct the road they didn't respect the rights of the local population. while smaller quarries continue to supply road builders observers say large scale projects in current state should wait until a final peace agreement is reached between the government and the region's armed ethnic groups until then a project meant to unite is instead sowing seeds of division. and. headlines on al jazeera rebels have begun redeploying fighters from 3 maj

8 percent minister in one cannes economic advisor says more loans from the world bank and asian development bank a likely. one of the bailout terms of rude people have been devalued against the dollar and electricity and gas prices will increase by mrs critics furious as come on higher reports from islamabad. after months of negotiations with the international monetary fund and the agreement on a $6000000000.00 loan package. government. economic crises and there did. may not be did. but. pakistan needs to undertake a very painful but it's an adjustment reform that the country will need to undertake most notably it includes a more flexible. second reforms in electricity and gas sector. reforms in the public sector enterprises which are throwing up huge losses. and election campaign. previous governments avoiding excessively from the i.m.f. . now he they agreed with the organization saying the wall won't be affected by debt something many people here aren't buying and. i'm a painter and if we talk about the dollar rupee parity it goes without saying that a falling rupee will mean rising costs for

taylor: first, we are headed over to 52nd annual meeting of the asian development bank. est, next. this is bloomberg. ♪ paul: this is "daybreak: asia." i'm paul allen in sydney. taylor: i'm taylor riggs in new york. the 52nd annual meeting of the asian development bank is starting. the institution has been discussing whether an increased interest rates on financing to countries such as china, that now exceeds a certain income level. let's cross over to the event and our chief international correspondent, haslinda auman. what do you have for us? inlinda: just to put it context, some discussions among some countries that perhaps china no longer needs loans because it is dispersing loans themselves to imagine economies through the likes of the belt and road initiative that has been going on for some time. there has been a lot based on that. prospects for the growth for the asian region. good to have you with us. what are the priorities of this meeting? what do you hope to achieve? -- we want to .howcase the development is very well-managed. haslinda: infrastructure. one of t

he spoke to bloomberg on the sidelines of the asian development bank meeting in fiji. >> it is not reallyt to get to the b level. a year or two years, not our target. we know our job is not done until we did that. i think one of the reasons why we have an update is because of structural reforms done on top of the use for economic statistics. we have other reforms like strength of central bond to deal with new challenges, the hanging -- which we are as far back as president trump's term. national payment system and -- so the tax reform was also one part of this. been urging us to do that. we did it through our own, part of the economic problem. nobody is telling us to do this. we embrace a lot of this. it is only fair we get -- >> so a minus -- >> definitely and hopefully. haslinda: in one year? >> we have to go through stable -- haslinda: [indiscernible] >> possibly. haslinda: does this reflect true value? it >> it still does. it is stable and [indiscernible] got heftymber one, we to more, equivalent than seven months of import, $52 anlion u.s. and we have inflow of dollars from our worke

the asian development bank suspended funding for the project and quarrying has stopped which has left some without work on the other leg right now knowing what i would like to demand now is to restart the mining process we've been praying for this and people work in mining their livelihood is in good condition but now they're facing challenges everyone is in a difficult situation. numerous attempts to contact the china road and bridge corporation were unsuccessful. civil society groups say the chinese state owned company has been doling out excuses instead of compensation. they chose to disobey laws that are already in place when the c.r.b. c came to construct the road they didn't respect the rights of the local population . while smaller quarries continue to supply road builders observers say large scale projects in current state should wait until a final peace agreement is reached between the government and the region's armed ethnic groups until then a project meant to unite is instead sowing seeds of division. and disease. in the west african nation of opposition is refusing to acc

prime minister imran khan's economic advisor says more loans from the world bank and the asian development bank are likely under the bailout terms the rupee will have to be devalued against the dollar and electricity and gas prices will go up the prime minister's critics are furious has come out high reports now from islamabad. after months of negotiations with the international monetary fund and the agreement on a $6000000000.00 loan package bugger's gone government needs to current draw economic crises and there did with the i.m.f. may not be did. but if. pakistan needs to undertake a very painful but it's an adjustment to perform that of the country we need to undertake most notably that includes a more flexible couldn't see 2nd reforms in electricity and gas sector turd reforms in the public sector enterprises which are. throwing up huge losses. and election campaign ever on conic you with previous government for avoiding excessively from the i.m.f. . now he'd. agreed a loan with the organization saying the wall won't be affected by death something many people here aren't buying and. i'm a

. >> the indonesia finance minister, speaking to us from the asian development bank meeting, which tookry policy decisions. central banks from australia, new zealand, malaysia, the philippines -- they are all set to go. thailand is the only one which is not really alive with the potential for a cut. make sure you watch for coverage of all those decisions. >> we have trade, inflation, tpi, cpi, credit data to wake up the week. plenty to work on the docket. we also have big interviews. >> we will be joined exclusively by the jp morgan boss jamie dimon. don't miss that. ♪ announcer: the following is a paid presentation for emeril's all new power air fryer 360, brought to you by tri-star products incorporated. emeril: hey, everybody. it's emeril with huge news. we're introducing an all-new pro-grade appliance that now you can have in your home. so, you ready to kick it up a notch? [cheering] announcer: we all love fried foods, but we hate all the health problems they can cause. what if you could make your favorite fried foods without so much of the unhealthy fat and calories? now you can! i

what are the world bank, ims and asian development bank doing to support the initiative? >> i can speak for the imf and world bank. they are both very focused on debt transparency and making sure that china follows rules of debt transparency that are consistent with the paris club and others. making sure that have been taken on by those countries, sustainable, and affordable. if there is proper financing for infrastructure, that's one thing. loan to own is an appropriate. >> how is the u.s. ensuring that countries are not becoming overly indebted to china and entering predatory contracts? >> those are conversations that we have had consistently, there is a lot of support from a lot of our allies on this issue. >> i'm about to run out of time. i would like to forward information from burma to you for further discussion. i yield back. >> the gentleman from connecticut, recognized for five minutes. >> thank you, madam chair, thank you mr. secretary for being here. i want to revisit the treasury decision to the list -- the list associated entities under control at the time, by

international capital markets confidence in the asian infrastructure investment bank, which is devoted to promoting broad-based socioeconomic developmentough infrastructure and other sectors. of course, the trade issues between china and the united states are worrisome. but i do understand there are twists and turns on the road to reach a final agreement. i certainly hope the trade dispute will be resolved, because it is in the best interest of both countries to have a very good resolution. as far as the banks of business is concerned, we believe our investment is for the long-term benefit of all countries. and indeed, a very strong investment in infrastructure can help the borrowing countries improve their resilience to deal with external shocks. know, the bank is very, very firm in maintaining high standards, transparency, a high level of governance, protecting the environment, and promoting social acceptance of high quality projects. does the trade war between the u.s. and china actually impact your work? --s it impact the aii the the aiib? jin: we do not feel any impact so far because the investment programs prepared by declining -

talking about the asian infrastructure and investment bank, it seems to be the go-to creditor right now for nations that are in need. do you think they ought to be able to have better development standards through that bank, and are there tools that we can use to try and be able to enforce that? >> absolutely. and that's something, as i said, we're very focused on. >> when we're talking about the world bank, it's often reward ford turning out large loans to middle income countries, including billions each year to china itself. tougher environments do tend to get left behind when we look at who they're lending to, even though the bank supposed to be able to prioritize them. how can we address beijing's belt and load initiatini road i it has banks in asia and shouldn't they be able to develop some of the challenging projects on the continent? >> let me just say i couldn't be more pleased that my undersecretary for international, david melpas, is now leading the world bank. it's the first time in a long time that we had an uncontested vote on this. i think david is very focused on reforms at the world bank and is very focused on these issues that you talked about, making sure tha