The Manila-based bank's report covering 45 countries says despite dramatic growth in infrastructure development that has supported growth, reduced poverty and improved people's lives, a substantial gap remains.
A significant part of the investments needed involve adapting to climate change, such as shifting from carbon-intensive modes of travel like private cars to public transportation like subways and railways, elevating road embankments, reinforcing structures and fortifying flood control systems to guard against rising sea levels and extreme weather events.
The report urges countries to enact regulatory and institutional reforms to make infrastructure more attractive to private investors, to boost government revenues through taxation and other reforms and to prioritize spending on infrastructure.
The White House defended Monday its decision to ask lawmakers and intelligence officials to help rebut allegations of ties between associates of President Donald Trump and Russia, while dismissing calls for a special prosecutor to investigate.
TRANSPORTATION. President Trump’s promise to invest heavily in infrastructure nationwide is spurring advocacy activity from municipalities and companies. The City of East Point, Ga., hired Van Scoyoc Associates to work on municipality
Johnson & Johnson said it raised the list price of its prescription medicines by an average of 8.5% last year—and 3.5% after discounts—in the health-products company’s first effort to address criticism about the high cost of medicines by opening up about its drug-pricing practices.