The Asian Development Bank maintained its growth outlook for Developing Asia as key nations move ahead with structural reforms

Targeted measures to stabilize investment helped China to sustain its expansion and India is poised to capitalize on a new government mandate, the Manila-based bank said in its Asian Development Outlook 2014 published Thursday. However, the bank cautioned that stable growth for the region masks shifting fortunes across subregions.

The bank kept GDP growth forecasts for developing Asian region at 6.2 percent in 2014 and 6.4 percent in 2015. China is forecast to grow 7.5 percent in 2014 and 7.4 percent in 2015, unchanged from the estimates published in April. Developing Asia seems prepared to cope with an eventual US monetary tightening, the bank noted.

"Slowing foreign demand hurt some economies in the region, but as a whole, Asia and the Pacific is on track for firm growth" - ADB Chief Economist Shang-Jin Wei said.

Structural reform processes in China, India and Indonesia will be critical in shaping the growth going forward in developing Asia, Wei said.

GDP growth in East Asia will remain at 6.7 percent in 2014 and 2015, the bank projected. Meanwhile, the 2014 outlook for South Asia was raised slightly to 5.4 percent from 5.3 percent and the estimate for the next year to 6.1 percent from 5.8 percent.

Elsewhere in Central Asia, growth is hobbled by a slowdown in the Russian Federation, the ADB noted. Growth in the subregion is projected to decelerate to 5.6 percent in 2014, before rising to 5.9 percent next year.