The Global Agriculture and Food Security Program (GAFSP) is a multilateral mechanism to assist in the implementation of pledges made by the G20 in Pittsburgh in September 2009. The objective is to improve incomes and food and nutrition security in low-income countries by boosting agricultural productivity.

Approximately 75% of the poor live in rural areas and most depend on agriculture for their livelihoods. Agriculture growth is two to four times more effective at reducing poverty than growth in any other sector. GAFSP addresses the underfunding of country and regional agriculture and food security strategic investment plans that are already being developed by countries in consultation with donors and other stakeholders at the country-level.

12-Jul-2017: Cabinet approves SASEC Road Connectivity Investment Program - Tranche 2

The Cabinet Committee on Economic Affairs has given its approval for upgradation and widening of 65 kms of Imphal-Moreh Section of NH-39 in Manipur at a cost of Rs. 1630.29 crores.

Manipur being a landlocked state with almost 90% of the area under difficult terrain presently has only road transport as a means of mass transport system within the state. Hence development of the road infrastructure is of paramount importance to improve connectivity and progress of the State and to ensure that the administrative set up reaches the isolated and remote habitats. The project will improve connectivity between Imphal with the eastern part of the state. Based on the existing and projected traffic requirements the NH-39 will be widened to 4 lane between Lilong village and Wanginj village, while the stretch between Wanginj village to Khongkhang will be upgraded to 2 lane with paved shoulder.

The project is being developed with ADB's loan assistance under the South Asian Sub-Regional Economic Cooperation (SASEC) Road Connectivity Investment Program which aims at upgradation of road infrastructure in Bangladesh, Bhutan, Nepal and India (BBIN) in order to improve the regional connectivity among BBIN nations. The project corridor is also a part of the Asian Highway No. 01 (AH01) and acts as India's Gateway to the East. Thus trade, commerce and tourism in the region will get a boost.

Background

For fulfilling India's "Look East" Policy and to promote and enhance trade link with South East Asia, the Government of India has notified an Integrated Custom Post (ICP) at Moreh. The development of this project is essential in order to support the increased traffic volume due to coming up of ICP. The workers of Manipur who specialize in creating bamboo and wood based handicraft items and uniquely designed hand woven textile items will get a new market among the Myanmar's customers. Small scale industries such as those making farm implements and tools, stationery, plastic extrusion items, carpentry units, could also develop markets beyond the border.

Besides socio-economic development the project will also lead to reduction in average travel time along the project road by nearly 40%. In addition, the new features of road safety namely vehicular underpasses, crash barriers, road signs & markings, service roads for segregation of slow and high moving traffic, truck lay-by, bus-bays etc. will help in greatly reducing accidents. Improved highway and lesser travel time will lead to savings in terms of fuel cost.

31-Mar-2017: Myanmar becomes the 7th member of SASEC

Myanmar has become the seventh member of the South Asia Sub-regional Economic Cooperation (SASEC) partnership, opening up new markets and supply chain links for trade and business between South Asia and Southeast Asia.

Myanmar’s participation in SASEC is expected to further promote and accelerate inter-subregional cooperation between South Asia and Southeast Asia and beyond, and will contribute significantly to achieving the future development goals of both subregions.

SASEC countries — Bangladesh, Bhutan, India, Maldives, Myanmar, Nepal, and Sri Lanka — coordinate the planning of projects and activities to increase economic growth by building transport connectivity, facilitating faster and more efficient trade, and promoting cross-border power trade. To date, SASEC members have invested more than $9 billion in development projects, which have connected markets and businesses over the last 15 years in the subregion. ADB serves as the SASEC Secretariat.

Myanmar is key to realizing greater connectivity and stronger trade and economic relations between the SASEC subregion and the countries of East and Southeast Asia. Myanmar’s membership in SASEC can offer a host of opportunities for realizing synergies from economic cooperation in the subregion.

Road corridors in Myanmar provide the key links between South Asia and Southeast Asia, while ports in the country can provide alternate routes and gateways to the landlocked northeastern region of India. Developing multimodal connectivity between India’s northeastern region, Bangladesh, and Myanmar has the potential to unleash significant economic potential and bring better livelihoods to millions in the region.

Transport linkages between South and Southeast Asia will also become more attractive to businesses once ongoing and planned motor vehicle agreements are finalized and implemented. Negotiations are underway to allow passenger, personal, and cargo vehicles to cross international borders much faster and with fewer border formalities, saving time and money.

Myanmar’s membership comes in advance of the first SASEC meeting of Finance Ministers that will be held in New Delhi on 3 April 2017. SASEC members will announce their vision for SASEC to accelerate and sustain the growth momentum in the region by unlocking their natural resources, industry, and infrastructure through subregional cooperation.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB is celebrating 50 years of development partnership in the region. It is owned by 67 members—48 from the region.

31-Mar-2017: South Asia Sub-regional Economic Cooperation (SASEC) Operational Plan (OP) 2016-25 includes nine projects worth $2.4 Billion

Three projects – two Economic Corridors and one Road Bridge – worth an aggregate of $1.2 billion to be in India. India fully supports the SASEC OP as it will improve our economic linkages with East and Southeast Asia in accordance with India’s Act East policy.

The Asian Development Bank (ADB) has approved a total of nine projects costing $2.42 billion as part of the Operational Plan (OP) 2016-2025 of the South Asia Sub-regional Economic Cooperation (SASEC) program. These projects will receive ADB financing of $1.43 billion. These nine projects represent a significant increase compared to the previous 15 years, when the annual average value of projects approved was only about $500 million.

The nine projects comprise of two rail projects in Bangladesh worth $890 million, two economic corridor initiatives (a project and program loan) and a bridge project in India worth an aggregate of $1.2 billion, trade facilitation and airport projects in Bhutan worth $27 million and key SASEC road and energy projects in Nepal worth $302 million. All these projects are aligned with the SASEC OP’s thrusts of developing road and rail links aligned closely with trade routes toward the east, streamlining trade procedures, and improving energy infrastructure.

The Indian corridor projects reflect the SASEC OP’s recent shift in emphasis on developing economic corridors within and between member countries. India fully supports the SASEC OP as an important milestone in the SASEC program, especially as it will pursue the development of infrastructure to improve our economic linkages with East and Southeast Asia, in accordance with India’s Act East policy, thereby raising the competitiveness of the sub-region’s enterprises.

The SASEC OP has identified over 200 potential transport, trade facilitation and energy projects which will require over $120 billion in investments for the next five years, out of which 74 projects have been identified in India with an estimated project cost of over $60 billion. Majority of these projects are located in the Northeast or Eastern part of the country.

The SASEC OP, endorsed in June 2016 by the SASEC member countries, is SASEC’s first comprehensive long-term plan to promote greater economic cooperation among the member countries in the areas of transport, trade facilitation, energy, and economic corridor development. Bringing regional cooperation to a higher level, the SASEC OP plans to extend physical linkages not only within SASEC but also with East and Southeast Asia by the next decade.

Established in 2001, the SASEC program is a project-based partnership to promote regional prosperity by improving cross-border connectivity, boosting trade among member countries and strengthening regional economic cooperation. ADB is the secretariat and lead financier of the SASEC program, which to date has supported a total of 46 projects worth $9.17 billion in transport, trade facilitation, energy and information and communications technology (ICT).