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| Spotlight: ADB 40th Annual Meeting 2007 |
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Challenges and Opportunities in a Transformed Asia and Pacific Region
About 2,500 participants, including government officials, private sector representatives, international organizations, media, academia, and civil society, gathered in Kyoto for the 40th ADB Annual Meeting on 4-7 May. The annual meetings are statutory occasions for the Governors of ADB members to provide guidance on ADB administrative, financial, and operational directions. A Governors' Seminar on "Facing Asia's Future" discussed the recent report of an Eminent Persons Group convened by ADB President Haruhiko Kuroda to advise on ADB's long-term role. Other seminars were organized on clean energy, Asia 10 years after the crisis, aging Asia, global economy in transition, regional cooperation and integration, and urbanization. The 41st Annual Meeting will take place 5-6 May 2008 in Madrid, Spain.
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ADB President Haruhiko Kuroda
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Stronger Regional Cooperation and Integration Will Promote Inclusive Growth, Says ADB President
Stronger regional cooperation and integration will help spread the benefits of development in Asia and the Pacific, ADB President Haruhiko Kuroda said at the 40th Annual Meeting. In his opening remarks at the seminar on "Emerging Asian Regionalism: Ten Years After the Crisis," Mr. Kuroda said regionalism can help achieve the long-term vision of a poverty-free Asia, which is still home to two thirds of the world's poor. |
ADB to Evolve with Changing Needs in Asia-Governors' Seminar
ADB Governors highlighted that ADB should evolve to respond to the region's new needs and discussed the recent Report of an Eminent Persons Group (EPG) convened by President Haruhiko Kuroda to advise on ADB's long-term role. The EPG was chaired by Supachai Panitchpakdi, Secretary General of the UN Conference on Trade and Development. The EPG report says the "new ADB" must be more focused, and driven by three strategic directions: from fighting extensive poverty to supporting higher and more inclusive growth; from economic growth to environmentally sustainable growth; and from a primarily national focus to a regional and ultimately global focus.
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| News |
ADB Operations Increase to $8.34 Billion in 2006, Annual Report Says
ADB approved total loans of $7.4 billion in 2006, a 28% increase over the previous year, including sovereign lending of $6.8 billion and non-sovereign lending of $575 million. With grants ($538 million), equity participations ($161 million) and technical assistance ($242 million), total ADB operations reached $8.34 billion, comprising $1.55 billion from the Asian Development Fund (ADF). In addition, ADB provided partial guarantees for $125 million, syndicated B-loans for $530 million and multitranche financing facilities of $3.8 billion. Loan disbursements increased by 21% ($5.7 billion) and net transfer of resources reached $2.2 billion, a significant improvement over the previous year. |
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Bindu Lohani Appointed as ADB Vice-President
The Board of Directors, acting on the recommendation of President Haruhiko Kuroda, has approved the appointment of Bindu Lohani as Vice-President (Finance and Administration) for a 3-year term, starting 5 April. Before assuming office, Dr. Lohani was Director General of ADB's Regional and Sustainable Development Department (RSDD) and, previously, the Secretary of the Board.
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| Aid Effectiveness |
New Report About Independent Evaluation at ADB
The report explains that operations evaluation initially focused on implementation and achievement of expected economic and social benefits. Nowadays, operations evaluation shapes ADB decision making throughout the entire project cycle and influence the institution as a whole.
ADB to Update Safeguard Policies
ADB is updating its environmental and social safeguard policies on Involuntary Resettlement, Indigenous People, and Environment to enhance development impact while adjusting to rapidly changing needs.
Measuring Underemployment
Unemployment and underemployment are the most pressing problems in Asia today, as reflected in the underutilization of about 29% of the total labor force. An ADB research paper describes a new cluster method to measure underemployment.
Poverty Matters - Quarterly Newsletter
Two of the poverty funds administered by ADB - the Cooperation Fund in Support of National Poverty Reduction Strategies (NPRS) financed by the Netherlands, and the Poverty Reduction Cooperation Fund (PRF) financed by the United Kingdom - support innovative poverty reduction activities. The April 2007 quarterly newsletter provides details on the 120 projects funded since 2001. |
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| Cofinancing and Partnerships |
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Asia-Pacific Carbon Fund Launched
On 2 May, ADB launched the Asia-Pacific Carbon Fund as part of ADB's Carbon Market Initiative. Since that launch, commitments to the fund have now reached $110 million from participants including Finland, Luxembourg, Spain, Sweden, and Switzerland. Other countries are expected to join the fund as participants before end of June.
ADB Launches New Funding Mechanism for Clean Energy Projects
ADB has also launched an innovative Clean Energy Financing Partnership Facility of $250 million to finance clean energy projects in Asia and the Pacific. The facility will support investments and technical assistance, and contributions are expected from ADB member countries, institutions, private companies and foundations.
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Smokey Mountain Now Home to 'Green' Waste Collection Center
The first Smokey Mountain community material recovery facility was inaugurated in the Philippines. The project is funded by ADB's Poverty and Environment Fund , a multi-donor facility cofinanced with Norway and Sweden. Smokey Mountain was once a 2 million-ton garbage heap that for over 40 years served as a waste disposal for the city of Manila. It drew a large community of informal settlers who scavenged the garbage for their livelihood. |
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| Sustainable Development |
ADB Issues Its First Sustainability Report
ADB ensures that, as an organization, it practices what it preaches, according to its first Sustainability Report released on 4 May. In the last 12 years, ADB has provided more than $8 billion for projects with environmental objectives. It has also taken measures to minimize its own environmental footprint at its Manila headquarters and in field offices. |
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Clean Energy Agenda Must Look Beyond 2012
The clean energy agenda must look beyond the close of the Kyoto Protocol in 2012 to manage climate change, a seminar recommended during ADB's Annual Meeting in Kyoto. "Given Asia's phenomenal growth, its energy and development agenda has become a matter of global attention," ADB Vice-President for Knowledge Management and Sustainable Development Ursula Schaefer-Preuss said in her speech.
ADB Seeking Public Comments on Revised Energy Strategy
ADB has launched a public consultation on its new energy strategy to be finalized in September 2007. Among the issues raised at an open forum at ADB's Annual Meeting were hydropower generation, clean energy, utilization of coal resources, and privatization of the power sector. Asia will need $6 trillion to $9 trillion for energy investments up to 2030. See Energy Strategy website.
ADB Supports Wind Energy Project in India Reducing 2.6 Million Tons of CO2 Emissions
ADB is promoting renewable energy in India through a wind energy facility of the Tata Power Company, India's largest private power company. The project will promote energy diversification and private sector participation in the renewable energy sector. Producing about 100 megawatts, the project will reduce up to 2.6 million tons of carbon dioxide emissions over the next 20 years.
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| Resources |
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ADB 2006 Annual Report
The Asian Development Bank 2006 Annual Report focuses on development effectiveness, management for results, and how ADB contributes to improve people's lives in Asia and the Pacific. The report includes major operational highlights and a special feature on ADB's 40th anniversary. It describes new ADB initiatives to address environmental and energy challenges in Asia and support regional cooperation and integration. The report also underlines the conclusions of the recent ADF IX mid-term review.
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EPG report: Toward a New Asian Development Bank in a New Asia
This report by an independent panel of eminent persons argues that by 2020 Asia will be dramatically transformed into a region that has largely reduced extreme poverty, with 90 percent of the people living in "middle income" countries, and a regional economy representing 45% of world gross domestic product and 35% of world trade. The report recommends a new role for ADB in addressing future challenges in the region and an increased focus on five priority areas: infrastructure development, financial sector development, energy and environment, regional cooperation and integration, and technological development and knowledge management.
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Online Version of Statistical Database System
ADB has launched an online version of its Statistical Database System, with easily searchable economic and social data from 1988 onward. The database, developed and maintained by ADB's Economics and Research Department, is a major resource and analytical tool for policymakers, academics and media interested in Asia-Pacific countries.
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Asia Bond Monitor, April 2007
Securitization of assets in emerging East Asian bond markets has gathered pace after the 1997/98 financial crisis and has the potential to fund the region's massive infrastructure needs, according to the latest Asia Bond Monitor (ABM). ABM highlights that emerging Asian bond markets expanded by 32% in 2006 and it includes a special chapter on the securitization market. See also the Asian Regional Integration Center (ARIC) website.
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Recent ADB Management Speeches
President Haruhiko Kuroda:
VP Ursula Schäfer-Preuss:
VP Liqun Jin, A Strategic Common Platform for Making Steady Progress in Water
MDG Rajat M. Nag, "A Borderless Asia: Vision for Regional Integration"
For additional speeches, please visit the Speeches Section on ADB Website.
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Portals on the ADB website
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Regular ADB Publications
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Contact
Asian Development Bank (ADB), European Representative Office
Rahmhofstrasse 2 - 60313 Frankfurt am Main, Germany
Telephone: (+49-69) 2193 6400, E-mail: adbero@adb.org
Philippe B. Benedic, Resident Director General, pbenedic@adb.org
Sophia S. Y. Ho, Deputy Resident Director, ssyho@adb.org
Axel Klein, External Relations Officer, aklein@adb.org |
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