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p. 56 of 95 BACK | NEXT Message from the Chairman of the Board of Directors Members, Capital Stock and Voting Power The Record Abbreviations 2004 in Review: Board of Directors' Report Special Theme: The Changing Face of the Microfinance Industry: Building Financial Systems for the Poor Part 1: Institutional Effectiveness Part 2: Poverty Reduction Strategic Priorities Thematic Priorities Regional Perspectives East and Central Asia Mekong Cambodia Lao People’s Democratic Republic Myanmar Thailand Viet Nam The Pacific South Asia Southeast Asia Part 3: Financial Statements: Management's Discussion and Analysis

Annual Report 2004 : Part 2: Poverty Reduction

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Mekong

The region comprises five countries sharing the Mekong River, namely Cambodia, Lao People's Democratic Republic (Lao PDR), Myanmar, Thailand, and Viet Nam. The Greater Mekong Subregion (GMS) Economic Cooperation Program also includes the People's Republic of China.

Real GDP growth ranged between 6 and 7.5% in 2004. National estimates indicate that the incidence of poverty dropped from a range of 27–58% in 1990–1994 to 10–36% in 1997–2003. Poverty levels remain high, however, particularly in rural areas.

Two important developments during the year were the formation of a new government in Cambodia following the 2003 elections and ratification of Cambodia's accession to WTO. Negotiations for WTO membership for the Lao PDR and Viet Nam continued. Another milestone was the completion of all preparations for opening the resident mission in Thailand which is expected to play a pivotal role in strengthening ADB’s partnerships with the government.

A number of initiatives accelerated concrete results and promoted long-term effectiveness and impact for the GMS. The GMS road map in the RCSP for 2004–2008 was approved in March. Seventeen regional technical assistance projects were also approved with ADB contributions of $7 million. The Mekong Development Forum in Paris in June and the Public-Private Consultation Meeting in Bangkok in September attracted a broader range of development partners to participate in the GMS. The year culminated with a highly successful 13 th GMS Ministerial Conference in December in Vientiane, Lao PDR that noted the substantial progress achieved in enhancing connectivity, increasing competitiveness, and building a greater sense of community. The conference produced a plan of action that provides a coordinated blueprint for GMS initiatives for the next several years.

Coastal areas of Myanmar and Thailand were affected by the tsunami on 26 December. In Thailand, six provinces in the southern part of the country—Krabi, Phang-Nga, Phuket, Ranong, Satun, and Trang—bore the major effects, including substantial loss of life, assets, and livelihoods though the impact on Thailand's overall economy is expected to be limited. In Myanmar, the damage was much less. The coastal villages affected included the townships of Labutta and Ngaputaw in the Ayeyawady Delta, Kawthoung in Taninthayi Division, and some townships of Rakhine State.

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