Catalog

President Tadao Chino Resigns
ADB Review [ November 2004 ]

Term covered Poverty Reduction Strategy, Long-Term Strategic Framework, reorganization, Resident Mission Policy, post-conflict reconstruction, ADF VIII and IX, and many reforms

MANILA, PHILIPPINES

In late August, Mr. Tadao Chino announced he will resign as Asian Development Bank (ADB) President, effective 31 January 2005. He assumed office on 16 January 1999.

“I am conscious of what we have achieved together: many Asian countries affected by the Asian financial crisis of 1997– 1998 are now firmly back on a solid and sustainable growth path; the eighth replenishment of the Asian Development Fund (ADF IX) has been successfully concluded, thanks to the strong support of all shareholders; and ADB’s new Reform Agenda—in addition to many earlier reforms—is now firmly on track,” he said. The start of ADF IX period in January 2005, he said, offered an opportune time to leave ADB.

Mr. Chino took office during a challenging period. Several developing member countries (DMCs) were still suffering after the 1997–98 financial crisis and needed help in recovering.

Soon after Mr. Chino’s arrival, ADB approved its Poverty Reduction Strategy, declaring poverty reduction its overarching goal. Under that goal, ADF VIII negotiations were started to replenish the ADF, a major source of concessional funds for poor members, and completed in 2000. The same year, a private sector development strategy was adopted to fight poverty by fueling economic growth.

In 2001, meanwhile, ADB adopted its long-term strategic framework to provide strategic direction and to position ADB to assist DMCs achieve the Millennium Development Goals by 2015.

Tadao Chino

The reorganization of ADB in 2002, together with its Resident Mission Policy, provided an effective response to these objectives. And this year, ADB’s Reform Agenda provides another framework for enhancing development effectiveness (see Reforms to Improve Assistance).

Mr. Chino said he was pleased by ADB’s proactive role in postconflict reconstruction in countries, such as Afghanistan, Cambodia, Sri Lanka, and Timor-Leste. Finally, earlier this year, donor countries agreed to a $7 billion replenishment for the ADF IX period 2005–2008.

Mr. Chino’s tenure at ADB completes a circle. In 1964, he was invited to the United Nations’ Bangkok-based Economic Commission for Asia and the Far East (ECAFE) to prepare documents for the first meeting of the Working Group of Experts on the establishment of ADB. His documents were used as a basis for discussions, and the Group completed a report that laid ADB’s foundations.

“I am very pleased with ADB’s many achievements during my time as President in the interest of all DMCs of the region. These would not have been possible without strong support of all shareholders, the management team, and staff. I am deeply grateful to them for their strong support, hard work, and dedication,” Mr. Chino said.

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