Spotlight: ADB Supports Regional Cooperation and Integration
 Regional Cooperation Helps Strengthen Asia's Economy: President Kuroda
Asia's remarkable economic recovery and resilience to external shocks in the decade after the financial crisis magnifies the value of regional economic cooperation and integration, ADB President Haruhiko Kuroda told an international symposium on 2 July, exactly 10 years from the start of the crisis. In his opening remarks, Mr. Kuroda said the region is constructing a common agenda to guide it toward adaptation, reform, and preparedness.
ADB Supports Regional and Subregional Initiatives
ADB adopted a Regional Cooperation and Integration (RCI) Strategy in July 2006. The RCI strategy aims to build cooperation and deepen integration in four focus areas:
- Regional and subregional programs on cross-border infrastructure and related software: ADB is involved in subregional initiatives such as the Greater Mekong Subregion (GMS) Program, Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA), Central Asia Regional Economic Cooperation (CAREC), Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) and South Asia Subregional Economic Cooperation (SASEC).
- Trade and investment cooperation and integration: ADB supports regional policy dialogue on trade related issues; research, capacity and institutional development; and trade facilitation. ADB and the WTO are jointly organizing an Aid for Trade conference in Manila in September 2007 to focus on trade-related capacity and infrastructure challenges in the region, and to set out priorities for future action.
- Monetary and financial cooperation and integration: ADB supports regional economic policy dialogue (ASEAN, ASEAN+3, APEC, and ASEM finance ministers processes); research; and capacity building activities. ADB is implementing a flagship research project Emerging Asian Regionalism: Ten Years After the Crisis, including a conference in Berlin on 25 September, jointly organized by ADB, the European Commission, and DIW German Institute for Economic Research.
- Cooperation in regional public goods such as prevention of communicable diseases and environmental protection.
ARIC Website: Information on Regional Cooperation in Asia
The Asia Regional Integration Center (ARIC) website provides access to key resources on Regional Cooperation and Integration in Asia. The site focuses on four pillars: infrastructure and software, trade and investment, money and finance, and regional public goods. The website is maintained by ADB's Office of Regional Economic Integration, which publishes the Asia Bond Monitor (ABM), Asia Economic Monitor (AEM), and a Working Paper Series. It also contains a database of free trade agreements in Asia and integration indicators.
AsianBondsOnline is an ASEAN+3 initiative, supported by the Asian Development Bank and funded by the Government of Japan. It offers easy, centralized access to information about the region's rapidly developing bond markets. The website contains essential data on current market activities, the legal and regulatory framework of each market, and monitors government policies and initiatives affecting the industry.
Widening Inequality may Threaten Asia's Growth: Key Indicators
 Widening disparities between and within Asian countries may threaten the growth process in one of the most dynamic regions of the world, according to Key Indicators 2007, ADB's flagship annual statistical publication prepared by the Economics and Research Department (ERD). The report says the poor are still lagging behind in the region's development even as poverty rates decline. Both relative and absolute inequality has increased in most parts of developing Asia, the report adds. "Growing inequalities can weaken social cohesion in the region," says Ifzal Ali, ADB Chief Economist.
ERD has recently published related research on inclusive, pro-poor growth in its Working Paper Series, Policy Brief Series, and in selected articles of the quarterly Asian Development Review.
The PRC and India Lag in Economic Well-Being and Living Standards, says ADB Report
The People's Republic of China (PRC) and India are lagging in terms of economic well-being and living standards of their population, according to the International Comparison Program (ICP) in Asia and the Pacific, published by ADB late July. Although the PRC and India account for 64% of gross domestic product of the 23 economies participating in the study, the two countries will drop to the 10th and 18th position, respectively, if the size of the economy is adjusted by population.
Review of ADB's Long-Term Strategic Framework Under Way
ADB has begun a review of its Long-Term Strategic Framework (LTSF) that will determine the organization's future direction and vision to 2020. The process is fully transparent, with wide dissemination of draft documents to feed into the final strategy paper. Regional consultations are scheduled with main stakeholders. The LTSF document will be presented at ADB's 2008 Annual Meeting in Madrid, Spain, on 3-6 May 2008.
ADB's Reform Agenda: Achieving Development Effectiveness Together
With the rapidly changing needs of its developing member countries (DMCs), ADB has adopted the reform agenda to enhance the development effectiveness of its policies and operations. The reform agenda aims to make ADB more effective in delivering development programs and helping reduce poverty in the Asia and Pacific region.
Successful Projects in the Energy Sector, 2003-2005
ADB's recent report focuses on six successful ADB-funded projects in the energy sector. The projects are in Bhutan, People's Republic of China (PRC), India, Lao People's Democratic Republic, and Nepal.
Nam Theun 2 Project in Progress
Two years after its approval, the Nam Theun 2 Hydroelectric Project in the Lao PDR continues to make progress. Nam Theun 2 is a 1,070-megawatt hydropower public-private investment project, which is expected to generate revenues and reduce poverty in the country.
Independent Evaluation of ADB's Assistance to the PRC
ADB and other international institutions have shared with the People's Republic of China (PRC) successful development experience by bringing in state-of-the-art technical, financial, and managerial expertise, according to an independent evaluation by ADB's Operations Evaluation Department.
 ADB and the Netherlands Water Partnership to Address Water Problems in Indonesia and Viet Nam
In response to huge water needs in Asia, ADB and the Netherlands Water Partnership signed an agreement to support the Millennium Development Goals related to water and sanitation. This will be part of ADB Water Financing Program 2006-2010, a major multi-donor initiative.
Asia Pacific Carbon Fund Raises More than $150 Million
The ADB-managed Asia Pacific Carbon Fund (APCF) has raised $151.8 million to help develop clean energy projects in the Asia and Pacific region. The APCF involves seven European countries - Belgium, Finland, Luxembourg, Portugal, Spain, Sweden, and Switzerland. The Fund is expected to help them achieve carbon emission reduction commitments under the Kyoto Protocol. APCF will invest capital upfront to facilitate project financial closure and increase the number of viable clean energy projects in Asia.
ADB and German Development Bank to Lend $169 Million for Indian Gas Terminal
ADB and the German development bank KfW have signed financing agreements to fund expansion of the liquid natural gas (LNG) terminal owned and operated by Petronet LNG Ltd, India. ADB will provide Petronet with a loan amounting to Indian rupees (Rs) 6.75 billion ($169 million). KfW will assume 50% of the debt service risk on the ADB loan through risk participation.
Policy Study on Poverty Reduction Strategy in the PRC
The Policy Study on Poverty Reduction Strategy: Trends, Challenges and Future Directions, funded by the ADB-managed Poverty Reduction Cooperation Fund from the United Kingdom, provided significant input into poverty reduction policies of the PRC. The study has helped the Government identify innovative approaches and conduct successful pilot testing.
Switzerland to Aid Pension Sector of 5 ADB Members
Switzerland is assisting the PRC, India, Indonesia, Philippines, and Viet Nam in expanding their pension system to meet the needs of growing elderly populations. ADB will administer a $210,000 grant.
Luxembourg Contributes to Financial Sector Fund for the Second Time
Luxembourg has contributed its second grant amounting to €132,515 to the multidonor Financial Sector Development Partnership Fund, which aims to strengthen financial systems in Asia and the Pacific. The Fund finances technical assistance operations, components of investment projects, and stand-alone activities focusing on the financial sector.
UN-ADB Joint Statement to Help Asia's Poor Better Access Water and Sanitation
To improve access of Asia's poor to clean water and adequate sanitation, the United Nations (UN) Advisory Board on Water and Sanitation and ADB issued a joint statement on 1 June to promote efficient management of Asia's water resources and bolster investments in safe and sustainable sanitation.
 ADB Forum at World Water Week, Stockholm
The international community celebrated the 2007 World Water Week on 12-18 August, focusing on Progress and Prospects on Water: Striving for Sustainability in a Changing World. ADB organized a forum on Dignity, Disease and Dollars - Asia's Urgent Sanitation Challenge, and participated in workshops on water utility reforms and water services financing.
ADB Supports Establishment of Clean Air Center
ADB is supporting the establishment of the Clean Air Initiative for Asian Cities (CAI-Asia) Center, the first regional nongovernment organization (NGO) in Asia dedicated to improving urban air quality in the region. The Center will serve as Secretariat for the CAI-Asia Partnership, a multistakeholder network of government agencies, NGOs, research institutions, international organizations, and private sector firms committed to improving air quality in Asia.
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Asia Economic Monitor 2007: Surging East Asian Capital Inflows a Big Concern
Surging capital inflows have brought increasing pressures for currency appreciation and fast-rising asset prices, leaving authorities with new macroeconomic challenges, according to the latest Asia Economic Monitor (AEM). The July 2007 issue includes chapters on managing capital inflows in emerging East Asia and on the region's banking systems 10 years after the financial crisis. AEM says emerging East Asian economies will continue to experience strong economic growth in 2007 and 2008. |
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South Asia Economic Report - Social Sectors in Transition
This second biannual issue of the South Asia Economic Report highlights development issues and regional cooperation and integration initiatives in the region. The main theme is Social Sectors in Transition: Accelerating Inclusive Growth and Human Development, covering education and health sectors. |
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Toward a Regional Exchange Rate Regime in East Asia
Deepening market-driven economic integration in East Asia makes intraregional exchange rate stability across the region increasingly desirable and necessary. This paper, written by Masahiro Kawai, Dean of the Asian Development Bank Institute (ADBI) in Tokyo, suggests that East Asia's emerging economies begin with a currency basket system based on the G3 (United States, Euro area, and Japanese) or G3-plus (including emerging East Asian) currencies as a monetary policy anchor. |
Recent ADB Management Speeches
President Haruhiko Kuroda
Vice President (Operations 1) Liqun Jin
Vice President (Operations 2) C. Lawrence Greenwood Jr.
Vice President (Knowledge Management and Sustainable Development) Ursula Schaefer-Preuss
Managing Director General Rajat Nag
Chief Economist Ifzal Ali
For other speeches, visit the Speeches section on ADB's website.
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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