Media Center

News Release

Email this   printer friendly format

Bhutan and ADB Sign Partnership Agreement to Fight Poverty

MANILA, PHILIPPINES (23 October 2001) - The Government of Bhutan and the Asian Development Bank (ADB) today signed a partnership agreement aimed at addressing poverty reduction by improving living standards and promoting social equity.

The Poverty Reduction Partnership Agreement, signed by Bhutan Finance Minister Lyonpo Yeshey Zimba and ADB Vice-President (West) Myoung-Ho Shin, targets the following specific goals by 2012:

• Reducing population growth rate to 1.3 percent (2.5 percent in 2000);

• Increasing life expectancy to 77 years (66 years in 1999);

• Lifting monthly average rural incomes to about Nu.3,000 (about US$65) per head (about Nu.1,000 per head in 1999);

• Raising the adult literacy rate to around 100 percent (54 percent in 1999); and

• Decentralizing decision-making and planning.

"We have signed the Poverty Reduction Partnership Agreement to reconfirm our shared interpretation of poverty as a multi-dimensional issue, as well as our continued joint efforts to improve the quality of life in Bhutan," said ADB Vice-President Shin. The targets will be used as the basis for ADB's future program of assistance for Bhutan.

The Government and ADB will aim to reduce poverty through income and employment generation led by the private sector. Emphasis will be put on enhancing good governance; improving physical infrastructure and social development; promoting private sector development; and protecting the environment.

Contacts