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Renewed Partnership
ADB Review [ July - August 2004 ]

ADB and UNESCAP sign agreement on regional cooperation and poverty reduction

JEJU, REPUBLIC OF KOREA

A new memorandum of under-standing (MOU) on future cooperation between ADB and the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) was signed by ADB President Tadao Chino and UNESCAP Executive Secretary Kim Hak-Su.

PARTNERSHIP UNESCAP Executive Secretary Kim Hak-Su and ADB President Tadao Chino after the MOU signing

The MOU, signed at ADB’s 37th Annual Meeting, follows up on commitments made by ADB and UNESCAP at the International Conference on Financing for Development held in Monterrey, Mexico, and the World Summit on Sustainable Development held in Johannesburg, South Africa. It also reflects the commitment of each organization to support achievement of the Millennium Development Goals (MDGs) in Asia and the Pacific.

Mr. Chino expressed satisfaction that the new agreement emphasizes regional cooperation and poverty reduction. “Two thirds of the world’s poor live in the Asia and Pacific region and it is essential that ADB and UNESCAP work together to achieve the Millennium Development Goals,” he said. “This new MOU can be a model for interagency cooperation in the true spirit of Monterrey and Johannesburg.”

Executive Secretary Kim expressed enthusiasm for the results-oriented content of the new agreement. “Given the magnitude of the development challenges faced in the Asia and Pacific region, regional organizations must work together more closely and focus on results,” he said. “It is essential that these two major organizations lead the way in producing results for the benefit of the people in the region.”

The agreement ends in 2015, which is also the target date for achieving the MDGs. A joint midterm evaluation of the results achieved will be conducted, officials said.

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