Asian lending bank assesses growing inequality at meeting

YOKOHAMA, Japan (AP) — The Asian Development Bank is holding its annual meeting in Japan, where bankers and leaders are assessing how they can support growth as income inequality grows in both rich and poor countries.

The ADB has worked for a half-century to fight poverty and support the region’s ascent as a global center of growth, but poverty remains a daunting problem for such lenders. It estimates more than $26 trillion will be needed by 2030 to build roads, ports and other infrastructure required to support economic growth and cope with the repercussions of climate change

The Manila, Philippines-based ADB began its annual meeting in Yokohama began Thursday. In 2016, the ADB issued loans totaling $31.7 billion, up 18 percent from the year before.