European Representative Office

Developing Asia set for Strong Growth in 2007
After an exceptional performance in 2006, developing Asia looks set for strong growth of 7.6% in 2007, according to ADB's flagship economic report released on 27 March 2007 in Tokyo, "Asian Development Outlook 2007: Growth Amid Change". But economic stresses need to be managed, while rebalancing economic growth and creating jobs remain major challenges. "Prudent macroeconomic management will ensure that developing Asia's economic outlook will remain favorable" says Ifzal Ali, Chief Economist of ADB in Tokyo.

Tsunami Reconstruction Progressing
More than two years after the tsunami devastated countries around the Indian Ocean, reconstruction efforts in India are progressing well, according to a new report published jointly by ADB, the UN, and World Bank.

About reconstruction in Banda Aceh ( Indonesia), also see the multimedia package "Tsunami: Two Years On", including real life stories, photo essays, videos, and taped interviews.

Third Roundtable on Managing for Development Results, Hanoi
In a critical milestone to implement the Paris Declaration on Aid Effectiveness, 400 participants from developing countries, donors, civil society, and the private sector attended the Third International Roundtable on Managing for Development Results (MfDR) in Hanoi, Viet Nam, from 5 to 8 February. The event focused on building local capacity to manage for results and develop country and regional action plans.

Results Matter: ADB Newsletter on Aid Effectiveness
The February 2007 issue of ADB's newsletter "Results Matter" focuses on Managing for Development Results (MfDR) initiatives in ADB's South Asia Regional Department (SARD). The newsletter provides a platform for sharing ideas and experiences on managing for development results. Click here to subscribe.

Sweden Signs Cofinancing Arrangement with ADB
In December 2006, the Government of Sweden has signed a General Agreement on Operational Arrangements with ADB to streamline its cofinancing processes. The agreement will reduce the time needed to process and implement cofinancing.

Belgium: € 10 Million Debt Swap for Pakistan Earthquake Reconstruction
The Government of Belgium has agreed to cancel about € 10 million (about US$ 13 million) in debt owed by Pakistan, which will in turn transfer the equivalent funds into ADB's multidonor Pakistan Earthquake Fund (PEF) [ PDF: 159kb | 27 pages ]. Belgium's debt-for-development swap follows a similar move in December by the Government of Norway for € 20 million.

Spain Contributes € 2 Million to Cooperation Fund for Technical Assistance
The Government of Spain has made another contribution of € 2 million to the Spanish Cooperation Fund for Technical Assistance. The fund, which had streamlined its approval procedures, finances technical assistance operations for project preparation, advisory services and project implementation.

Finland Contributes Additional € 5.5 Million to ADB's Pakistan Earthquake Fund
The Government of Finland has made another contribution of € 5.5 million to ADB's multidonor Pakistan Earthquake Fund (PEF) [ PDF: 159kb | 27 pages ], bringing its total contribution to € 10 million. The PEF was established in November 2005 to pool and promptly deliver emergency grant financing to support reconstruction and livelihood restoration in earthquake-affected areas.

Norway and Ireland Contribute to ADB's Multidonor Gender Fund
The Government of Norway has made another contribution of Nkr 25 million (about US$ 4 million) to the Gender and Development Cooperation Fund, adding to its initial contribution of Nkr 15 million. The fund was established in 2003 to promote gender equality in the Asia-Pacific region, with initial contributions totaling about US$ 4.5 million from Canada, Denmark and Norway. In November, Ireland also contributed a € 800,000 grant (about US$ 1.0 million).

ADB President Adresses UK Think Tank on Energy and Climate Change
ADB President Haruhiko Kuroda spoke at Chatham House, London, on 12 March 2007 about "Asia's Energy Needs and Climate Change: What Can Be Done?" The President's remarks focused on the key challenge of meeting Asia's growing energy needs while managing the impact on climate change.

ADB Report Warns on Climate Change Implications of Asia's Increased Motorization
Even under the most optimistic current scenarios for managing the expansion of road traffic in Asia, emissions of carbon dioxide from the transport sector will treble over the next 25 years, according to a new ADB Report. For example, the number of cars and SUVs in the People's Republic of China could grow by as much as 15 times the present level over the next 30 years - to more than 190 million vehicles. In India, the growth could be as much as 13 times. Correspondingly, carbon dioxide emissions can be expected to rise by 3.4 times in China and 5.8 times in India over the same period.

New ADB Initiative to Address Asia's Urban Challenges
The new Cities Development Initiative for Asia (CDIA), announced during a conference on Investing in Asia's Urban Future (5-6 February), will support local governments in implementing their urban development efforts. ADB and the German Ministry for Economic Cooperation and Development (BMZ) co-sponsored the conference. Hailing the move as an important step forward, ADB Vice-President for Knowledge Management and Sustainable Development, Ursula Schäfer-Preuss, said CDIA would prove an innovative way to build new investments of up to US$ 10 billion in Asia's cities in sanitation, urban transport, waste management and other urban infrastructure.

Growing Consumer Society Laying Waste to Asia's Resources
Asia's rapid economic growth has brought many benefits to the people of the region. But progress has come at the cost of high levels of waste compared to global standards. The average daily solid waste from Asia's largest cities today is expected to increase from 760,000 tons today to 1.8 million tons per day by 2025.

Read the online feature.