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ADB Hosts Meeting of World Panel on Water Infrastructure Financing

MANILA, PHILIPPINES (18 April 2002) - The second meeting of the World Panel on Water Infrastructure Financing will discuss various aspects of "water for people" focusing on policies and experiences of the People's Republic of China, India, and the Philippines. The Asian Development Bank (ADB) is hosting the two-day meeting.

The panel also aims to formulate practical proposals for attracting higher financial flows to the water sector through innovative financing approaches.

Asian Development Bank (ADB) President, Mr. Tadao Chino and Chairman of the World Panel on Water Infrastructure Financing, Mr Michel Camdessus at the panel's second meeting, which the ADB is hosting. The two-day meeting in Manila will focus its discussion on aspects such as policies and innovative financing approaches in the water sector.

The meeting kicked off with introductions to the Manila water concessionaires and a visit to the Bayan Tubig project in Quezon City. During the visit, concessionaire Maynilad which is supplying water to the communities through preferred rates briefed the panel led by Chairman Michel Camdessus, Honorary Governor of the Bank of France and former head of the International Monetary Fund. Also present was Hans Juergen Springer, Special Counselor to ADB President Tadao Chino.

Another group from the panel visited the Manggahan Floodway Water Supply Project, a similar campaign developed and implemented by Manila Water Company to supply piped water to poor communities at low rates. Mr. Angel Gurria, former Minister of Finance of Mexico, accompanied that group.

The creation of the World Panel on Water Infrastructure Financing resulted from the growing global recognition that

• Financing water resources and services is a critical constraint in meeting agreed international development goals; and
• More innovative financing approaches need to be developed, involving public-private partnerships.

The panel was jointly established by the World Water Council, the 3rd World Water Forum Secretariat, and the Global Water Partnership with the objective of reviewing solutions to global water financing needs. The panel's conclusions and recommendations will be presented at the 3rd World Water Forum in Kyoto, Japan in March 2003.

The ADB was invited to be a member of the panel consisting of highly experienced financiers and experts chaired by Mr. Camdessus. The panel will hold six meetings in the period leading up to the 3rd World Water Forum. The first was held in Paris in February 2002.

Visit ADB's water site.

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