Sri Lanka is an excellent example of how it makes good economic sense for the public sector to drive private sector development in Asia and the Pacific.
Donald Lambert leads the Private Sector Development Unit within ADB’s Viet Nam Resident Mission. The unit supports expanding the role of the private sector in contributing to Viet Nam’s socio-economic development. Previously at ADB, he worked on financial sector development in India and Sri Lanka, served as head of the corporate recovery unit, and was a credit risk management specialist covering ADB’s financial institutions portfolio. Employment prior to ADB included with the US Federal Reserve and as a US Army officer. Mr. Lambert holds a master’s degree from Harvard University, a bachelor’s degree from Princeton University, and is a CFA® charterholder.
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To leverage more infrastructure development funds, India should establish a specialized institution dedicated to credit-enhancing corporate bonds.
The first bond issue under a project bond guarantee facility set up in 2012 by ADB and IIFCL is a landmark achievement for Indian infrastructure development, as credit enhancement can help draw in money from insurance companies and pension funds.