ADB Review - December 2008

NEWS FROM THE ASIAN DEVELOPMENT BANK December 2008

ADB Review provides an electronic digest of activities of the Asian Development Bank.

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In this issue, read about Asian bond markets, and President Kuroda’s visit to Central Asia and Jeddah. Featured is the Jamuna Multipurpose Bridge in Bangladesh. Also, find out the latest on ADB events, publications, opportunities, and operations.

Top News
Asian Bond Markets Key Source of Funds for Governments During Turmoil, Says ADB
Emerging East Asia’s local currency bond markets have shown great resilience to global credit turmoil and can be a key source of funds for governments looking to finance expansionary fiscal policies to offset an anticipated economic slowdown, according to the latest issue of Asia Bond Monitor.

ADB President Attends Seventh Ministerial Conference on Central Asia Regional Economic Cooperation
ADB President Haruhiko Kuroda attended the Seventh Ministerial Conference on Central Asia Regional Economic Cooperation in Baku, Azerbaijan, on 20-21 November.

President Kuroda Visits Islamic Development Bank in Jeddah
The Presidents of the Islamic Development Bank Group and ADB have called for closer cooperation to enhance the impact of their development work in common member countries.

CAREC Program Adopts Ambitious Transport, Trade, and Energy Plans
Eight countries adopted strategy documents outlining ambitious plans to deepen regional economic cooperation in transport, trade facilitation, trade policy, and energy in Central Asia and neighboring states.

Japan, ADB to Promote Natural Catastrophe Risk Mechanisms for Asia and Pacific
Japan and ADB have committed to promote programs that develop natural catastrophe risk insurance and reinsurance mechanisms in the Asia and Pacific region.

ADB Allocates $3 Million Grant to Expand Clean Energy Program
ADB is providing a $3 million grant to expand its clean energy program to involve more developing member countries.

Road Map Launched for Cleaner Fuels and Vehicles in Asia
Developing countries in Asia should raise their vehicle emission standards to the levels of Japan, Europe, and US, according to a report funded by ADB.

ADB Hosts Workshops on Draft Safeguard Policy Statement
ADB hosted a series of consultation workshops to get feedback from external stakeholders on the Second Draft of the Safeguard Policy Statement, which is part of an ongoing safeguard policy update.

Public and Private Sector Cooperation to Combat Corruption in the Asia and Pacific
Corruption in business transactions decreases competition, deters investment, and increases the cost of goods and services in Asia and Pacific.

HIV and AIDS Online Data Hub Launched
The first-ever one-stop online resource hub providing comprehensive and easy-to-access HIV and AIDS data in Asia and the Pacific has been launched.

Sweden Contributing $4.7 Million to ADB's Multi-Donor Trust Fund for Clean Energy
The Government of Sweden has agreed to contribute $4.7 million to the multi-donor trust fund under ADB’s Clean Energy Financing Partnership Facility.

Spain Contributing $10 Million to Trust Funds for Water, Energy
The Government of Spain has agreed to contribute a total of $10 million to multi-donor trust funds operating under ADB’s Water Financing Partnership Facility and Clean Energy Financing Partnership Facility.

•	ADB Financed Projects win Awards The Institute for Construction Training and Development, Sri Lanka, which annually selects quality construction work and awards good performing contractors for major achievements, awarded Maga Engineering (Pte) Limited, a key player in the construction industry, for two ADB financed projects.
News from Resident Missions
•	ADB Institute: Indian reporter named Development Journalist of the Year Meghana Dhoke received top honors at an awards ceremony on 14 November at the Foreign Correspondents' Club of Japan. The event was the culmination of the 4-day Developing Asia Journalism Awards workshop program organized by ADB Institute and attended by 22 finalists from 13 developing countries.
•	President Kuroda opens 27th field office in Armenia The ADB President, on his way to the 7th CAREC Ministerial Conference in Baku, visited Armenia and officially opened the newest resident mission in Yerevan. The opening was attended by the Prime Minister and ADB Governor/Minister of Economy.

Speech
Regional Risk Management in East Asia and the Impact of the global Financial Crisis
“Recent data on unemployment, manufacturing orders, and trade flows, all point to the increasing likelihood of a global recession,” said ADB President Haruhiko Kuroda at the 11th Convention of the East Asian Economic Association

Feature
Bridge to Prosperity
The Jamuna Multipurpose Bridge—the most expensive and technically one of the most challenging transport infrastructure projects ever accomplished in Bangladesh—is a gateway to economic growth and prosperity for millions.

•	ADB Supports Road Network Development in Afghanistan A $400 million multitranche financing facility approved by ADB will contribute to the Afghan Government's plan to construct about 2,900 kilometers of national roads and repair and maintain 1,500 kilometers of existing paved roads.
•	ADB Works with Afghan Government to Improve Energy Sector Electricity will become available to a larger population of Afghanistan under a new Energy Sector Development Investment Program.
•	Railway Loan to Boost Economic Links in Western China ADB is extending a $300 million loan for a railway line that will bolster economic growth in the poor western region of the People's Republic of China.
•	More Lights for Rural India Powered by ADB Loan ADB has approved a loan of up to $225 million to support India's rural electrification program.
•	Loan to Support Livelihood Improvements for Poor Philippine Farmers ADB is embarking on a fresh loan project to improve the lives and incomes of more than 150,000 poor farmers in southern Philippines.
•	ADB Increases Funding for Kyrgyz Republic Water Infrastructure Project ADB is granting an additional $30 million for a project that will provide cleaner drinking water and better sanitation services to 1.5 million people in the provinces of Chui, Jalal-Abad, Osh, and Batken in the Kyrgyz Republic.
•	ADB Helps Kyrgyz Republic Improve Investment Climate The Kyrgyz Republic's drive to achieve higher and broad-based economic growth is being supported by an ADB program to improve the business and investment environment.
•	ADB to Help China Improve Judicial Standard ADB is providing technical assistance to help the People’s Republic of China improve the capacity of its judiciary to implement economic laws.
•	Better Health Services for Viet Nam's Rural Poor, Ethnic Minorities ADB is financing a project to improve health care services in Viet Nam's south central coast region.
•	'New Silk Road' to Link Europe, Asia ADB is extending $700 million to Kazakhstan to help improve a major road that will transform the country's economy.
•	ADB Supports Energy Conservation Fund for India ADB is to help set up a fund that will mobilize financing for energy efficiency projects in the Indian state of Madhya Pradesh.
•	Emergency Food Assistance Reaches the Tables of Cambodia Over 68,000 of Cambodia's poorest families have received emergency food assistance.
•	Support for Key Central Asia Transport Corridor ADB is providing financial support for the improvement of a key Central Asian transport corridor, which will help boost trade, tourism, and economic cooperation in the region.
•	ADB to Help Improve Tajikistan's Power Supply An ageing facility in Tajikistan's electricity supply network, that is in danger of collapse is being rehabilitated with support from ADB.
•	Emergency Assistance to Aid Georgia's Post-Conflict Recovery ADB President Haruhiko Kuroda met with Georgian Prime Minister Grigol Mgaloblishvili to discuss ADB’s recent approval of a $70 million loan for emergency assistance for post-conflict recovery in Georgia.
•	Road Improvement Projects Planned in Lao PDR, Viet Nam Provinces ADB is funding a feasibility study for a road improvement project in two very poor provinces of Lao People's Democratic Republic and Viet Nam.
•	ADB to Help Expand Cook Islands' Avatiu Port ADB) is providing a financial assistance package of $15.5 million to expand Avatiu Port, Cook Islands' main international port.
•	Support for Expanded Role of Civil Society in China's Poverty Reduction ADB will help the People's Republic of China tap the potential of civil society to bolster state-led poverty reduction efforts, through a technical assistance grant of $400,000.
•	Solomon Islands to Improve Safety and Efficiency of Domestic Maritime Services ADB is extending a $14 million grant to help improve shipping services in the Solomon Islands to spur rural development and provide poor residents with greater access to markets and public services.
•	More Funds Released for Indonesia's Infrastructure Sector Reform ADB is providing an additional $280 million loan to support critical reforms in Indonesia's infrastructure sector to further fuel economic growth and narrow the disparity gap.
•	Korea, ADB to Promote Private Sector Participation in Infrastructure Projects The Republic of Korea and ADB are promoting public-private partnerships for infrastructure investments in developing member-countries.

•	A Joint Country Gender Assessment
•	Urban Development Experience and Visions India and the People's Republic of China
•	The Garbage Book
•	The Mekong Region Trade Trends, Patterns and Policies
•	Economic Analysis Retrospective 2007: Strengthening the Quality of Project Economic Analysis in ADB Operations
•	Navigating the Global Storm - A Policy Brief on the Global Financial Crisis
•	ADBI working paper: ASEAN Open Skies and the Implications for Airport Development Strategy in Malaysia
•	ADBI research paper: Strategies for the People's Republic of China's Small and Medium Enterprise Development within the National Innovation System
•	ADBI working paper: Global and Regional Shocks: Challenges to Asian Economies
•	ADBI working paper: Crises, Capital Controls, and Financial Integration
•	ADBI research policy brief: Organic Crops or Energy Crops? Options for Rural Development in Cambodia and the Lao People's Democratic Republic
•	Workforce Development in India: Policies and Practices

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