Developing Asia is proving to be more resilient to the global downturn than was initially thought, the Asian Development Bank (ADB) says in a new major report. The Update to ADB's flagship annual economic publication, Asian Development Outlook (ADO) 2009, released today, forecasts economic expansion in developing Asia to come in at 3.9% in 2009, up from the 3.4% expected in March when the ADO 2009 was released. In 2010, the growth projection is likewise upgraded to 6.4% from 6.0%. Stronger growth in East Asia and South Asia underpinned the improved prospects."Despite worsening conditions in the global economic environment, developing Asia is poised to lead the recovery from the worldwide slowdown," said ADB Chief Economist Jong-Wha Lee. Firm action by many governments and central banks, the relatively healthy state of financial systems prior to the global crisis, and the rapid turnaround in the region's larger, less export-dependent economies, all enhanced developing Asia's growth prospects. However, there are notable divergences in the outlook across subregions and across economies.[...]