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In this issue, read about ADB’s involvement in the extractive industries and expansion in South Caucasus and Central Asia, the challenges facing Asia’s economy this year and the role private sector plays in sustaining the region’s prosperity, and news from ADB’s resident missions. Featured in this issue is how Pakistan is rebuilding the quake-damaged northern areas, with timely support from ADB. Also, find out the latest on ADB events, publications, opportunities, and operations.
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| ADB Seeks More Funds to Assist 1.5 Billion Poor in Asia |
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ADB officials and government representatives from the international donor community and selected recipient countries convened in Manila from 13-14 March to discuss the replenishment of the Asian Development Fund, an endowment used to provide grants and low-interest loans to countries with low per capita incomes and limited debt-repayment capacity.
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| President Kuroda says Reform Key to Viet Nam’s Continued Growth |
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At the conclusion of his 3-day visit to Viet Nam, ADB President Haruhiko Kuroda said as the country’s economy continues to develop, Viet Nam will increasingly need to focus on factors that make its economic growth sustainable and less vulnerable to changes in the global economic environment.
Earlier, on a tour of Cambodia, the President launched a new railway rehabilitation project with Prime Minister Hun Sen. He also signed a package of five grants and loans totalling US$71 million.
The President met government leaders and senior officials in both countries. He was in Cambodia and Viet Nam from 17–21 February.
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| ADB Backs Initiative to Get Countries to Disclose Resource Revenues |
ADB joins the African Development Bank, World Bank, International Finance Corporation, and European Bank for Reconstruction and Development, as a supporting organization of the Extractive Industries Transparency Initiative. The initiative encourages governments to disclose their revenues, as well as companies to publicize their payments from oil, gas, and mining in order to promote transparency and fight corruption.
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| Registration for ADB's 41st Annual Meeting in Madrid Ongoing |
Registration is now ongoing for ADB’s 41st Annual Meeting to be held 3-6 May 2008 at the Institución Ferial de Madrid (IFEMA) in Madrid, Spain. Participants are requested to register as early as possible and online registration will remain open until 18 April. Members of the media; nongovernment organizations and civil society; and staff and members of ADB-accredited intergovernmental organizations, financial institutions and banks, and registered consulting and contractor firms are invited to attend the meeting and participate in the seminars. For more information, please visit http://www.adb.org/annualmeeting/2008/registration.asp.
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Key Management Visits in February |
ADB Vice Presidents C. Lawrence Greenwood, Liqun Jin, and Ursula Schaefer-Preuss addressed conferences or took part in consultations away from headquarters in February.
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$71 Million for Education, Jobs, Roads, and Market Reform in Cambodia
The loan and grant package will improve secondary education, support farmers living around the Tonle Sap Lake, foster financial system reform, and rehabilitate major roads throughout the country.
Linking Western Mongolia with PRC, Russia
The $200-million project will span nearly 750 kilometers and become part of the Asian Highway Network, a 141,000-kilometer road system traversing 32 Asian countries with links to European roadways. See the project information.
ADB is providing a loan of $137 million equivalent for the Melamchi Water Supply project, which will benefit Kathmandu's 1.5 million residents. See the project information.
The grant project will help the Cook Islands prepare an infrastructure development plan that will include climate proofing projects to mitigate the impact of severe weather events. See the project information.
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| More Homes for Tsunami Victims |
Pieter Smidt, Head of ADB’s Extended Mission in Sumatra, and Farooq Salman Murad, Chairman of the Board of Trustees of Muslim Aid, hand over 39 houses built in Meunasah Bueng Village for the 2004 tsunami victims. The 39 houses are part of a $5.1 million program for a total of 716 houses implemented by Muslim Aid under the Earthquake and Tsunami Emergency Support Project
ADB and other international organizations were recognized for their support in the reconstruction of Aceh and Nias after the December 2005 earthquake and tsunami during the "Indonesia Thanks the World" event hosted by Indonesia's President Susilo Bambang Yudhoyono on 24 January.
Best Performing Projects in Bangladesh Recognized
The project teams behind the North-West Crop Diversification Project, the Rural Infrastructure Improvement Project, and the Urban Governance and Infrastructure Improvement Project were awarded by ADB’s resident mission in Bangladesh for having the best performing projects for 2007.
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| Challenges for the Asian Economy in 2008 and Beyond |
Environment and energy issues are among the challenges facing Asia, according to a speech given by ADB President Haruhiko Kuroda at the Asian Development Bank Institute Symposium in Tokyo on 8 February.
Sustaining Asia's Prosperity: Prospects and Opportunities
The private sector within Asia and around the world has a very important role to play in sustaining Asia’s prosperity, and ADB can help facilitate the private sector's engagement, said ADB Vice President Liqun Jin in a speech delivered at the Confederation of Spanish Employers in Madrid, Spain on 4 March 2008.
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| Rising from the Rubble |
ADB’s swift response to the devastating October 2005 earthquake is helping make the massive task of rebuilding easier.
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Publications 
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March 2008
