Singapore, US to jointly promote infrastructure development in Asia

Washington

SINGAPORE and the United States will work together to promote infrastructure development and investment in Asia under an agreement inked on Wednesday (March 20).

The agreement signals the development of more options for infrastructure financing for Asian countries, in addition to China's Belt and Road Initiative (BRI) and a trilateral partnership between the US, Australia and Japan to mobilise investment in infrastructure projects in the region.

Asean has been working to attract more private investment to fund its massive development needs, as the Asian Development Bank estimates that South-east Asian countries will need US$210 billion a year over the n…