South Asia’s Transport Corridors Can Become Engines of Growth
Asia-Pacific, News, Transportation, September 3 2018
WASHINGTON, USA: Transport corridors offer enormous potential to boost South Asia’s economic growth, reduce poverty, and spur job creation, provided the new trade routes spread their benefits broadly and limit negative environmental impacts, says a new World Bank report.
The report The Web of Transport Corridors in South Asia — jointly produced with the Asian Development Bank, the United Kingdom’s Department for International Development, and the Japan International Cooperation Agency – argues that the many transport corridors proposed across Asia would cost trillions of dollars to implement, far exceeding the financing resources available.
Hence, countries need to prioritize the most promising corridors that will deliver transformative impacts on economies and people – or, in the terms of the title of the report, will offer wider economic benefits. And while engineering designs and geopolitical considerations are important factors in the decision, sound economic analysis is key to designing truly successful corridors, the report notes.
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Source: World Bank
Re-posted with permission