As the major focus is in the developing country being forecast with an immense opportunity to get a good return on making a bigger investment in long- term prospects. Asian countries are taking the centre stage when it comes to the developing country being the largest consumer in the world and with various cultures and ethnicity. The continent provides a major challenge but lucrative for big investors.
As per a study done by Jeffrey D. Sachs et al., in Handbook of Green finance and data sourced from ADB (2017), the considerable investment needs to be done from 2016 to 2030 has been analyzed in order to turn into renewable energy,
- Around $26 trillion investment needs to be done by Asian countries or if you want to maintain the momentum of the growth, poverty eradicates and respond to climate change then $1.7 trillion needs to be invested per year.
- If the costs for climate change mitigation and adaptation is removed then $22.6 trillion will be needed or a baseline estimation of $1.5 trillion per year.
- $14.7 trillion investment for power and $8.4 trillion for transport.
- $2.3 trillion investments will be required in telecommunications.
- $800 billion investment is required in water and sanitation.
- $565 billion investment in Central Asia, $16,062 billion investment in East Asia, $6,347 billion investment in South Asia, $3,147 billion investment in Southeast Asia, and $46 billion investment in The Pacific is required.
The suggestion provided is to raise funds by the World Bank, the Asian Development Bank, and the African Development Bank from capital markets at low interest. The investment shows also scopes for various future projects with a good strategic plan.