The global pandemic is threatening the Asia and Pacific region’s progress toward critical targets under the UN Sustainable Development Goals (SDGs), according to the Asian Development Bank (ADB) report. Yasuyuki Sawada, the bank’s chief economist, said the progress in the Asia Pacific region is actually quite impressive. However, he added, the pandemic exposed social and economic fault lines that may weaken the region’s sustainable and inclusive development. According to the bank, the Asia Pacific region’s economy has grown at a rapid pace in recent years, and in 2019 contributed up to 35% of the global gross domestic product (GDP). “Unfortunately, the pandemic took a toll on domestic investment and weakening global trade and economic activity," Sawada explained.

Source: The Nation August 24, 2021 16:30 UTC