Dhaka, Feb. 4 -- Asia's vast global diaspora - which includes many skilled, highly educated and prosperous people - is a strong potential source of financing for the region's infrastructure and other development needs.

Developing countries in Asia need massive infrastructure investment of $1.2 trillion annually, and the need jumps to $2.1 trillion if we also consider other factors needed to make the economies more competitive and resilient, and to attain a higher and more inclusive growth trajectory.

However, governments have very limited budgets to finance these investments. Their tax revenue is in many cases less than 15% of gross domestic product (GDP). In 2022, the share for India is about 12%, the Philippines 14%, and Pakistan 10%....