European Representative Office

ADB's New Disaster and Emergency Assistance Policy
ADB approved a comprehensive disaster and emergency assistance policy that will provide rehabilitation and reconstruction assistance as well as assist developing member countries with prevention, preparation, and mitigation of the impact of future disasters.

New ARIC web site
The Asia Recovery Information Center (ARIC) web site became the Asia Regional Information Center on 31 May 2004. With its new look and navigational design, ARIC adds Bangladesh, India, Pakistan, and Sri Lanka to the 12 developing countries of the ASEAN+3 group it already covers: Brunei Darussalam, Cambodia, People's Republic of China, Indonesia, Republic of Korea, Lao People's Democratic Republic, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Viet Nam.

More on ARIC at http://aric.adb.org

'AsianBondsOnline' Web Site Launched at ASEAN+3 Finance Ministers Meeting
ADB President Tadao Chino, the 13 ASEAN+3 finance ministers, and the ASEAN Deputy Secretary General launched AsianBondsOnline, a one-stop clearing house of information on the rapidly growing sovereign and corporate bond markets in the region. Supported by ADB and financed by the Government of Japan, AsianBondsOnline is part of the ASEAN+3 Asian Bond Markets Initiative (ABMI), a cooperative effort to help develop mature bond markets in the region.

More on AsianBondsOnline at http://asianbondsonline.adb.org

Reaffirmed Commitment To Accountability, Efficiency And Transparency at ADB 37^th Annual Meeting
Around 2,500 delegates attended the ADB Annual Meeting in Jeju Island, Republic of Korea, from 15-17 May 2004 to discuss the challenges of alleviating poverty in the Asia and Pacific region which, despite its economic dynamism, is still home to two thirds of the world's poor.

4^th Round of Asian Development Fund IX Donors' Meeting in Seoul: ADB Donors Agree to Replenish ADB's Concessional Fund
Twenty-eight donor members of ADB have agreed on a US$7 billion total replenishment of the Asian Development Fund (ADF) which includes the introduction of grants. ADF is the oldest and largest of ADB's special funds. Loans from ADF are provided on concessional terms to developing member countries, with a low per capita gross national product and limited debt-repayment capacity.

ADF IX, as the replenishment is called, will cover the four-year period from 2005 to 2008. The replenishment amount is significantly higher than the $5.65 billion agreed at the conclusion of ADF VIII, the last replenishment negotiation covering the period 2001 to 2004.

ADB Lends US$6.1 Billion in 2003: Highest in Six Years
ADB lending reached $6.3 billion in 2003, a 7.6% increase from 2002. Lending made up 97% of total operations, the highest lending level since 1997. ADB's private sector operations increased sharply in 2003.

ADB Will Provide about US$1 Billion in Assistance to Afghanistan
At the International Conference on Afghanistan in Berlin on 31 March, ADB President Tadao Chino announced that about US$1 billion will be provided by the ADB in assistance to the war-torn country for 2005-2008. Read the news release.

More on Afghanistan at http://www.adb.org/afrm/

More news at http://www.adb.org/News/default.asp

ADB seeks Feedback on Water Policy Revision
ADB is seeking comments from water agencies, nongovernment organizations, and other interested stakeholders on a proposed revision to its Water Policy. Based on an interim review last year of the policy's implementation, ADB's Water Sector Committee recommended a revision on the policy provision for large water resources projects.

The proposed revision is at http://www.adb.org/Water/Policy/proposed_revision.asp.

Comments will be received at http://www.adb.org/Water/Policy/comments_policy_revision.asp until 30 June 2004.

ADB Appoints Ms. Khempheng Pholsena, Lao PDR Vice Minister, as Vice-President
The Board of Directors of ADB, acting on the recommendation of ADB President Tadao Chino, has appointed Ms. Khempheng Pholsena as Vice-President (Finance and Administration) effective 5 April 2004. Ms. Khempheng Pholsena, ADB's first female Vice-President, succeeds Vice-President John Lintjer, who retired from the service of ADB on 17 January 2004.

ADB and UNESCAP Sign MOU on Future Cooperation
Tadao Chino, ADB President, and Kim Hak-Su, Executive Secretary of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), signed a new Memorandum of Understanding on future cooperation by the two regional organizations during ADB's 37th Annual Meeting in Jeju Island, Republic of Korea.

New Public Communications Policy Draft
ADB has drafted a Public Communications Policy to supersede ADB's current information and disclosure policy approved in 1994. ADB staff are currently discussing the draft in face-to-face meetings with stakeholders from the public, private, and nonprofit sectors. In addition, written comments were welcomed during a three-month public comment period that concluded on 28 May 2004. These comments, and feedback received at the consultation meetings, will be given serious consideration in the preparation of a second draft. The revised draft will also be made available for public comment. Questions about the policy review process and draft PCP may be directed to disclosure@adb.org.

ADB Pacific Strategy 2005-2009 - Responding to the Priorities of the Poor
ADB is currently preparing a new strategy to guide its operations in the Pacific. Consultations are being held from April to early June 2004. In addition, comments are welcomed directly to ADB at pacificstrategy@adb.org.

Read the Discussion Paper at http://www.adb.org/Documents/Policies/Pacific_Strategy/

Norway and the Netherlands Contribute Respectively Extra $2 Million and $5 Million to ADB Water Cooperation Fund
The Government of Norway and of the Netherlands have contributed additional respectively extra US$2 million and US$5 million, respectively, to ADB's Cooperation Fund for the Water Sector.

Spain Contributes Extra $3 Million to ADB Cooperation Fund
The Government of Spain is contributing an extra $3 million to the ADB-administered Spanish Cooperation Fund for Technical Assistance. The fund was established in July 2001 with an initial contribution of $2 million.

The United Kingdom to Support Rural Poverty Reduction in Pakistan
ADB has approved a technical assistance (TA) grant of $400,000 to the Government of Pakistan to research the determinants and drivers of poverty reduction, and ADB's contribution in rural Pakistan. The TA is financed by the United Kingdom through the Poverty Reduction Cooperation Fund.

Finland to Finance a Technical Assistance Grant for Strengthening Environmental Management Systems in Central Asia
ADB will help four Central Asian republics develop their environmental management infrastructure, through a technical assistance (TA) grant approved for US$800,000 and financed by the Government of Finland.

Germany to Cofinance Nepal's Rural Finance Sector
To strengthen key rural finance institutions in Nepal, ADB has approved a technical assistance (TA) grant of US$515,000, cofinanced by the Government of Germany.

The Netherlands to Cofinance the Development of the Basin-Wide Flood Management for Mekong River
To help develop a basin-wide flood management and mitigation program for the Mekong River, ADB approved a technical assistance (TA) grant of US$1 million. The Government of the Netherlands will provide grant cofinancing of $2.7 million.

More news at http://www.adb.org/News/default.asp

Forthcoming Events

Workshop on ADB's Draft Public Communications Policy, Accountability Mechanism, and Anticorruption Policy
11 June 2004, London

ADB staff will discuss the new draft Public Communications Policy which will supersede ADB's current Information and Disclosure Policy approved in 1994. It will also present the new Accountability Mechanism which was adopted in May 2003. The mechanism was established to provide better access for people adversely affected by ADB-assisted projects to voice and seek solutions to their problems. Finally, it will give an overview of the progress and challenges of the Anticorruption Policy.

ADB Annual Report 2003
The Annual Report includes the highlights of ADB's operations and financial statements in 2003. This year's theme chapter focuses on "Law and Institutional Reform: Catalysts for Inclusive Development in the Asia and Pacific Region".

Asian Development Outlook 2004
The Asian Development Outlook 2004 provides a detailed assessment and analysis of macroeconomic trends for 41 Asian and Pacific economies for 2003, as well as economic growth projections for 2004 and 2005. It includes a special chapter on foreign direct investment in developing Asia.

Commercialization of Microfinance: Perspectives from South and Southeast Asia
This publication highlights the different perspectives on commercialization of microfinance, identifies issues and challenges relating to commercialization, and recommends approaches to promote the process of commercialization.

ADB Review June — The Millennium Goals: Will Asia and the Pacific Achieve Them?
ADB Review reports on development news from Asia and the Pacific and on the activities of the Asian Development Bank. The June issue focuses on the status of achievement of the Millennium Goals in Asia and the Pacific.

ADB Review April — Japan Fund for Poverty Reduction (JFPR)
This issue features stories on how the JFPR is helping to provide basic services to the poor.

More ADB publications at http://www.adb.org/Publications/default.asp

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