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| Spotlight:Afghanistan Donors Conference, London (31 Jan – 1 Feb) |
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$1 Billion Earmarked for Afghanistan, ADB President Tells London Afghanistan Donors Conference
ADB plans to provide Afghanistan with US$1 billion in soft loans and outright grants over the next five years, ADB President Haruhiko Kuroda told the Afghanistan Donors Conference.
Read the President’s statement at the Conference.
On 1 Feb, President Kuroda met with Afghanistan President Hamid Karzai to discuss areas for future cooperation. During his stay in London President Kuroda was interviewed by Stephen Sackur, host of HARDtalk, the BBC TV news program.
See the digitized version of President Kuroda’s interview on HARDtalk.
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| In Brief |
President Kuroda attends World Economic Forum in Davos, 25 - 29 January
On his mission to Europe, President Kuroda attended the Annual Meeting of the World Economic Forum in Davos, Switzerland. On its sidelines he told the press that he expects Asian developing economies to maintain last year's strong growth rates, while energy prices are to stabilize at around $50-$60 per barrel towards the end of the year.
ADB Remembers Asian Tsunami Victims
One year ago, a magnitude 9 earthquake triggered a tsunami that changed forever the lives and landscapes of vast stretches of Asia. Nearly 300,000 people were killed and more than 1.5 million were displaced in a disaster of unprecedented proportions. Reconstruction and livelihood restoration is still a major challenge.
For a regular update on ADB Tsunami assistance: www.adb.org/tsunami.
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Vice President C. Lawrence Greenwood |
New ADB Vice President, Operations 2: C. Lawrence Greenwood, Jr.
C. Lawrence Greenwood, Jr. was appointed Vice-President Operations 2 for a term of three years on 15 December 2005. He succeeds Joseph B. Eichenberger.
Mr. Greenwood is currently Principal Deputy Assistant Secretary of the Bureau of Economic and Business Affairs, US Department of State. Mr. Greenwood will be particularly in charge of Operations in East and Central Asia, South East Asia and the Pacific
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India: ADB Lending to increase to $2.65 Billion a year by 2008
ADB plans to increase its lending to India to $2.65 billion a year in 2008. The program reflects the continuing priority of upgrading infrastructure, which accounts for more than three quarters of the total, and gives emphasis to agriculture and rural development to create jobs, ensure broad-based growth and support poverty reduction.
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Pakistan: ADB President Announces US$1 Billion Aid for Quake-Hit Pakistan
President Kuroda has announced that ADB will provide about US$1 billion in concessional assistance for the rehabilitation and reconstruction of earthquake-hit Pakistan. |
Pakistan: US$5.2 billion needed for Earthquake Relief and Reconstruction
Pakistan needs US$5.2 billion to finance the relief and reconstruction program according to a joint ADB/World Bank
damage assessment . Of this, $3.5 billion will be for reconstruction of housing, schools, health facilities, roads and other public infrastructure. A companion report on early recovery was also recently by the
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Avian Flu: ADB Support Could Reach at least $470 Million
ADB is ready to commit at least $470 million to support Asia's responses and fight against avian flu. "With avian flu spreading and increasing the risk of a human pandemic that would be costly in terms of lives, health and economies, boosting national and regional preparedness in Asia is a matter of urgency that ADB is ready to address," ADB Vice-President Geert van der Linden said at a UN Conference in Geneva, 7-9 November.
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Central Asia Regional Cooperation: $952 Million ADB Assistance Planned
ADB will increase its support for regional projects of the Central Asia Regional Economic Cooperation Program (CAREC). CAREC will maintain its focus on transport, energy and trade in the 2006-2008 program, which includes 16 major projects totaling $943 million and 13 technical assistance projects totaling $9 million. |
Montreal Climate Change Conference: ADB to Launch New Carbon Initiative to Boost Supply of CDM Projects
ADB has announced the launch of a special cofinancing vehicle to boost investment in new Clean Development Mechanism (CDM) projects in Asia and the Pacific at the United Nations Climate Change Conference in Montreal, 6 December.
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People’s Republic of China: ADB Launches first 1 Billion Yuan Panda Bond Issue
ADB launched its first Yuan denominated ("Panda") bond issue in the domestic capital market of the People's Republic of China. The issue will have a principal amount of CNY1 billion, a bullet maturity of 10 years.
The proceeds of the bonds will be used in the PRC for funding private sector development projects.
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People’s Republic of China: ADB Takes Strategic Minority Stake in Bank of China
ADB signed agreements for an equity investment of US$75 million in Bank of China Ltd to support reform of the commercial banking sector in the People's Republic of China.
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| Cofinancing |
European Commission Contributes 39.4 Million Euro Grant to Tsunami Road Project in Sri Lanka
The European Commission has made a 39.4 million euro (US$ 47.5 million) grant contribution to support Sri Lanka's efforts to rehabilitate tsunami-affected areas in partnership with ADB. The contribution will help rehabilitate 270 kms of national roads that form part of the route between Matara on the south coast and Batticaloa on the east coast, as part of ADB's Tsunami-Affected Areas Rebuilding Project (TAARP). ADB has provided a $150 million grant and a $7 million loan to support the project. |
Finland Contributes 4.5 Million Euro Grant to Pakistan Earthquake Fund (PEF)
The Government of Finland has made an initial grant contribution of 4.5 million euros
(US$ 5.4 million) to the ADB-initiated Pakistan Earthquake Fund (PEF). The PEF was established in November 2005 to promptly deliver emergency financing for reconstruction, urgent rehabilitation, and livelihood restoration in earthquake-affected areas.
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| Upcoming Events |
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39th ADB Annual Meeting in Hyderabad, India, 3-6 May
The 39th Annual Meeting of the Board of Governors of the Asian Development Bank will be held in Hyderabad, India. Senior government officials, development partners, private sector representatives, civil society groups and media from around the world are expected to gather for the event.
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| Asia 2015: Joint DFID/World Bank/ADB Conference: Promoting Growth - Ending Poverty, London, 6-7 March
The Conference will bring together policy makers and senior officials from across Asia, influential figures from civil society and the private sector to discuss the changing face of development in Asia. The two-day event will also discuss the most effective ways to help achieve the Millennium Development Goals (MDGs) in the region.
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| News from ERO |
New ERO Deputy Resident Director Sophia Ho |
Sophia Ho Is New Deputy Resident Director of ADB European Representative Office (ERO)
Ms. Ho assumed the position in December 2005. She will help implement ERO's external relations strategy in the 17 European member countries.
Born in Hong Kong, China, Ms. Ho has 13 years experience in development operations, country strategies and programs in South Asia and the Pacific. Her last appointment was Deputy Regional Director of ADB's South Pacific Subregional Office in Suva, Fiji Islands.
An economist by profession, Ms. Ho holds a doctorate in Economics from the University of Hawaii at Manoa, Honolulu.
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| Resources |
Recent Speeches
For additional speeches, please visit the Speeches Section on ADB Website.
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