The Asian Development Bank yesterday announced that 56,000 children in Asia could die as a result of the global economic crisis. "This is not only a financial crisis but also a social crisis," said the bank's managing director general, Rajat Nag. "In developing Asian countries outside Japan, our estimate shows that because of the declining economic growth, it will bring serious economic and social impacts in the region causing over 56,000 children to die in the region." A report issued by the World Bank puts global estimates of the social impact at causing the deaths of 400,000 children. "No matter how many thousands it will be, we consider every one more child is too much," said Nag. The bank has forecast growth for the region's developing economies at 3.4 percent, down from 6.3 percent last year.