BIMSTEC a Vital Bridge between South Asia and Southeast Asia -India PM
"BIMSTEC serves as a vital bridge between South and Southeast Asia, and is emerging as a powerful platform for advancing regional connectivity, cooperation, and shared prosperity," said India Prime Minister Narendra Modi during his speech at the BIMSTEC Summit held in Bangkok, Thailand.
South Asia GDP is estimated at 6.0% in FY2025
Gross domestic product in South Asia, still the fastest growing subregion, is estimated at 6.0% in FY2025 and 6.2% in FY2026. Inflation is projected to decline to 4.9% in fiscal year 2025 and to 4.5% in fiscal year 2026.
ADB Loan to Enhance India's Logistics Sector
The SMILE program is lending initiative to boost India’s manufacturing sector and supply chain resilience through a policy framework enhancing logistics efficiency. Subprogram 2 extends implementation of policies across central, state, and local governments while scaling reforms to more agencies, states, and municipalities.
SASEC Electricity Transmission and Distribution Strengthening Project
The project will address the limitations of the grid infrastructure in Nepal in meeting the growing domestic electricity demand and green electricity export aspirations. It will finance some of the high-priority components of Nepal’s transmission and distribution master plans to improve electricity evacuation from domestic hydropower plants and deliver electricity to domestic demand centers, and to transmission hubs for cross-border electricity trade.
Action Plan For SASEC Initiatives (2024–2026)
The Action Plan For SASEC Initiatives (APSI) (2024–2026) was finalized following extensive discussions during SASEC working group meetings on transport, trade facilitation, and energy, as well as the Senior Officials Meeting held in New Delhi, India, in late 2023, with additional input from country consultations and SASEC meetings in 2024, receiving final endorsement at the SASEC meetings in Thimphu, Bhutan, in November 2024. This iteration introduces the Progress Update Framework.
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