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Annual Report 2004
Poverty ReductionImproving economic conditions in many developing member countries (DMCs) and high economic growth rates in the People's Republic of China (PRC), India, and elsewhere have been important contributors to a reduction in overall poverty rates in Asia and the Pacific, but achieving the Millennium Development Goals (MDGs) by 2015 remains a challenge. The devastation caused by the Indian Ocean tsunami has added a new dimension to this challenge. The MDGs are clearly reflected in ADB's Long-Term Strategic Framework (LTSF) 2001–2015 and in its poverty reduction strategy (PRS) adopted in 1999. ADB's work program is guided by the PRS. In July 2004, ADB completed a comprehensive review of the PRS to obtain feedback on its implementation and to examine its relevance in the context of the major changes that have occurred both within the region and globally. The PRS review confirmed that the three pillars of the strategy—pro-poor, sustainable economic growth; inclusive social development; and good governance—are still relevant. To achieve greater effectiveness, however, the review recommended refinements in strategic directions including a greater country focus to align ADB operations with national poverty reduction strategies and to foster partnerships. It also called for increased attention to results, monitoring, and evaluation, including that monitoring of performance be shifted to managing for development results closely linked to the MDGs. The review also recommended that capacity development be added to ADB's thematic priorities of private sector development, environmental sustainability, gender and development, and regional cooperation. Acting on the review's recommendations, ADB implemented several initiatives in 2004 including new guidelines and instructions on project classification and on sector and thematic monitoring and modifications of relevant sections of the operations manual. This work will continue in 2005 and will include implementing changes to the project classification system, guidelines to improve the quality of country poverty analyses, and the introduction of results-based country strategies and programs (CSPs). Work to develop a comprehensive monitoring and evaluation framework for the PRS and to improve financial and organizational capacity also commenced in 2004. An important feature of the enhanced PRS is a stronger emphasis on the MDGs in recognition of the generally weak performance in the region on the nonincome dimensions of poverty. It also responds to growing international efforts to eliminate extreme poverty in all its dimensions and to ensure the basic human rights set out in the Millennium Declaration. The impact of the PRS on poverty reduction is monitored through achievement of the MDGs at the regional level. Preparations for publishing a regional report on the MDGs with the United Nations Development Programme (UNDP) and the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) began in 2004. The report will be finalized in 2005 along with the global UN MDG report to emphasize actions needed in the region by policymakers, the international community, and other stakeholders.
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