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The Asian Development Bank launched a new
strategy to refocus operations on three
development agendas – inclusive economic
growth, environmentally sustainable growth,
and regional integration. By 2020, about
half of the bank's operations are expected
to be in private sector development and
private sector operations.
"Strategy 2020 will refocus ADB operations
on three development agendas -- inclusive
economic growth, environmentally sustainable
growth, and regional integration," the
Manila-based bank said in a statement.
Formed in 1966 with Japan and the United
States as its top subscribers, the bank
approved 7.4 billion dollars in loans and
242 million dollars of technical assistance
in 2006. Figures for 2007 will be published
next month. |
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Haruhiko Kuroda, President, Asian
Development Bank.
Photo courtesy:
ADB. |
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However the bank, which has traditionally been
headed by a Japanese nominee, has been criticised by
Western members over its lack of focus and for the
limited effectiveness of some bank-funded projects.
To fight poverty, the new policy "repositions ADB
for a more innovative and effective development role
in our rapidly changing region and within the
international aid architecture," its president
Haruhiko Kuroda said.
The bank said it believes poverty reduction can only
be achieved if more people are economically
productive, growth takes place in a well-managed
natural environment, and neighbouring economies work
together. The main economic drivers would be the
private sector, good governance, gender equity, and
knowledge, the bank said.
By 2012, 80 percent of ADB's lending will be in five
core areas -- infrastructure, environment, regional
cooperation and integration, finance sector
development, and education. By 2020, about half of
operations will be in private sector development and
private sector operations, and 30 percent in
regional cooperation and integration.
ADB will continue to operate on a more selective
basis in health, agriculture, and disaster and
emergency assistance, it added.
Courtesy: Agence
France Presse reporting from Manila
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