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ADB Annual Meeting: Delegates in Madrid Discuss Region's Future
Three thousand delegates of governments, private sector, academe and civil society from around the world gathered in Madrid for the 41st ADB Annual Meeting on 3-6 May. King Don Juan Carlos I of Spain and Minister of Economy and Finance Pedro Solbes Mira, Chair of ADB Board of Governors and Governor for Spain, addressed the Meeting. The main topics discussed focused on the economic outlook for the Asia-Pacific region, soaring food and oil prices, climate change and the fight against poverty.
 ADB Announces Financial Support for Food Crisis
President Kuroda announced $500 million in immediate support to mitigate the impact of raising food prices on the poor in Asia-Pacific countries. He also pledged to double ADB lending for agriculture to $2 billion in 2009. See ADB paper "Soaring Food Prices: Response to the Crisis". At the 11th ASEAN + 3 Finance Minister's meeting also held in Madrid, President Kuroda said that the region is coping well with global financial turmoil, but rising food prices pose a serious challenge. ADB will, therefore, continue to support improvement of agriculture productivity, irrigation, rural infrastructure and microfinance to help achieve food security.
ADF X Replenishment: Over $11 billion to Help Asia's Poorest
For the next four-years, ADB concessional window - the Asian Development Fund (ADF) - will provide $11.3 billion to fight poverty in Asia-Pacific countries, a 60% increase from the previous period. "The generous contribution of donor nations will help developing Asia-Pacific countries meet the Millennium Development Goals targets, and bring better opportunities and a brighter future to people living in the region's poorest nations," ADB President Haruhiko Kuroda said at ADB Annual Meeting in Madrid.
Time Has Come to Pursue Deeper Asian Regionalism, Says ADB Flagship Study
Asian countries should boost economic ties through closer policy coordination, and improve financial market surveillance to foster financial stability, says ADB flagship publication "Emerging Asian Regionalism - A Partnership for Shared Prosperity" released at the 41st Annual Meeting. See full Report
ADB Launches "Strategy 2020" - Its New Long-Term Strategic Framework
ADB has launched "Strategy 2020" to help fight poverty in a region where 600 million people live with less than $1 a day. ADB stakeholders provided extensive inputs to "Strategy 2020". ADB operations will support inclusive economic growth, environmentally sustainable growth and regional integration. Sector priorities will focus on infrastructure development, environment and climate change, financial sector development, regional cooperation and integration, and education. Governance and private sector development will continue to be cross-sectoral priorities. Download Strategy 2020.
 2008 Asian Development Outlook (ADO) Presented in Europe
After its launch in Hongkong on 2 April, ADB's annual economic forecasts - the Asian Development Outlook (ADO) - were presented in Brussels, Madrid and Frankfurt by Assistant Chief Economist Frank Harrigan. The Asian Development Outlook provides a comprehensive economic analysis of 44 economies in developing Asia and the Pacific. Download ADO 2008
European Commission, Brussels
Chief guests included Antonio de Lecea, Director of Economic and Financial Affairs ECFIN, other EC officials, and European partners. |
Ministry of Economy and Finance, Madrid
Chief guests included Angel Torres, Secretary General of Political Economy, MoEF and José Viñals, Vice-Governor of the Bank of Spain.
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European Central Bank, Frankfurt
Chief guests included Lorenzo Bini Smaghi, Member of ECB Executive Board, and Hermann Remsperger, Member of Deutsche Bundesbank Executive Board.
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 ADB Operations Expand to Record $11.1 billion in 2007, ADB Annual Report Says
ADB approved $10.1 billion in loans in 2007, a 37% increase over the previous year, in response to increased demands for development assistance, according to ADB's 2007 Annual Report. Pakistan, India, China and Vietnam were the largest borrowers. Together with grants, equity and technical assistance, ADB operations sum up to record $11.1 billion in 2007.
Philipe Benedic Completes Tenure as Resident Director General at ADB European Representative Office (ERO) in Frankfurt
After three and a half years, Philippe Benedic's appointment as Resident Director General (RDG) of ADB European Representative Office, has ended on 8 May. The new RDG will be appointed shortly.
ADB Continues Stakeholders Consultations on its Safeguard Policy Update
ADB will continue far-reaching stakeholders consultations on the update of its environmental and social safeguard policies. A first series of workshops were already held in 12 cities - Bishkek, Manila, New Delhi, Sydney, Jakarta, Beijing, Hanoi, Islamabad, Washington D.C., Ottawa, Frankfurt and Tokyo.
 Asia-Pacific Region Will Miss MDGs If 'Gaps' Are Not Filled Immediately
Many Asia-Pacific countries will not meet all Millennium Development Goals (MDGs) according to a joint report by the United Nations and ADB. The report "A Future Within Reach 2008" was launched during the annual session of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). It is the third regional report on MDGs produced by ESCAP, ADB and the UN Development Programme (UNDP). Download the report
Austria Contributes $5 million to Multi-Donor Water Fund
Austria joined Australia and Norway in the multi-donor fund that provides resources to ADB's Water Financing Partnership Facility (WFPF). With a grant contribution of $5 million, Austria will help provide safe drinking water and sanitation services in remote and impoverished areas of Asia-Pacific.
Sweden provides additional contribution to the Poverty and Environment Fund
With an additional SEK 15 million grant, Sweden will continue to support ADB programs to test potentially replicable approaches to reduce poverty and enhance participation of the poor in environmental management.
Technical Assistance: Cofinancing from European Member Countries, Feb-Apr 2008
From February to April 2008, ADB's European member countries contributed $18.4 million grants to finance ADB technical assistance projects: Finland $4.9 million, the Netherlands $3.1 million, Norway $0.3 million, Sweden $0.3 million and United Kingdom $9.8 million.
Global Environment Facility Commits $63 Million to Help Preserve Pacific Coral Triangle
The Global Environment Facility (GEF) and ADB will support the preservation of Asia's Coral Triangle (CTI). GEF will commit $63 million to fund conservation of the region's coastal and marine ecosystems, and develop adaptation programs to cope with the adverse impact of climate change. The ADB/GEF project is expected to catalyze an additional $425 million of co-financing.
ADB to Promote Clean Energy through Private Equity Funds
Mobilizing up to $100 million in seed capital, ADB will help establish 5 private sector funds for clean energy projects in Asia with a total investment of $1.2 billion (MAP Clean Energy Fund, China Environment Fund III, GEF South Asia Clean Energy Fund, Asia Clean Energy Fund, and China Clean Energy Capital). Each fund will receive up to $20 million in equity participation from ADB.
ADB Calls for Measures to Enhance Financing on Climate Change
Speaking in Chiba, Japan, at the 4th Ministerial Meeting of the Gleneagles Dialogue on Climate Change, Clean Energy and Sustainable Development, ADB Vice-President for Knowledge Management Ursula Schäfer-Preuss called for more funding to reduce the negative impact of climate change in Asia-Pacific countries.
ADB Funds Environmental Plan to Save 'Coral Triangle' and 'Heart of Borneo'
ADB will provide a $1.5 million grant to the World Wildlife Fund for Nature (WWF) to develop a plan in Brunei, Indonesia, Malaysia and the Philippines to protect seas and rainforests being damaged at an alarming rate. The region is home to the Coral Triangle as well as the Heart of Borneo, a rainforests covering 22 million hectares.
Prime Ministers from Mekong Countries to Chart Future Directions for the Region
Prime Ministers of the six Greater Mekong Subregion (GMS) countries met in Vientiane, Lao PDR on 30-31 March to review progress and chart future directions for GMS cooperation. The meeting focused on "Enhancing Competitiveness Through Greater Connectivity".Download the document
Regional Cooperation to Deepen in Asia, Says ADB President at the European Commission
Economic cooperation and integration will become a key pillar of Asia's development strategy as the region moves forward, said President Kuroda at a conference on "European and Asian Integration: Achievements and Challenges" co-hosted by the European Commission and ADB in Brussels, 10 March.
Major Road Project to Link Western Mongolia with PRC and Russia
With ADB support, Mongolia has launched a road project to link the western region with the People's Republic of China and Russia. With a total cost of $200 million, the Western Regional Road Corridor Development Project will span 750 kilometers and become part of the Asian Highway Network, a 141,000 kilometer-road system linking 32 Asian countries and European roadways.
New Overland Route Links Singapore to Beijing
On 31 March, Route 3 highway in Lao PDR was opened as the last remaining part of an overland route joining Singapore and Beijing. Out of a total cost of $97 million, Lao PDR contributed $7 million and ADB, Thailand and China cofinanced $30 million each.
Recent ADB Management Speeches
President Haruhiko Kuroda
Vice-President Liqun Jin
Vice-President Ursula Schäfer-Preuss
For other speeches, please visit the Speeches section of ADB's website.
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Rahmhofstrasse 2 - 60313 Frankfurt am Main, Germany
Telephone: (+49-69) 2193 6400, E-mail: adbero@adb.org
Sophia S. Y. Ho, Officer-in-Charge / Deputy Resident Director, ssyho@adb.org
Michael Hasenpusch, External Relations (Consultant), mhasenpusch@adb.org
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