Press Statement
By
Haruhiko Kuroda
President, Asian Development Bank
At the Press Briefing
31 August 2005
Aravalli, Hotel Oberoi, New Delhi
Ladies and gentlemen, thank you for joining us today.
I am very happy to be here in India on my first official visit to South Asia. It is a great opportunity for me to see, first hand, the results of India's remarkable economic emergence, and to discuss the country's future needs, plans and aspirations with Senior Government Officials. Since my arrival, I have already met with some of India's top leaders to talk about ADB's operations in India, our current assistance and planned assistance for the future. My discussions today with President Dr. Abdul Kalam, Prime Minister Dr. Manmohan Singh, and Finance Minister Mr. P. Chidambaram were extremely fruitful and informative.
The Government's efforts to pursue high economic growth and reduce poverty in the country, particularly in the rural areas, are truly commendable. Not only has India's rapid growth been good for the people of India, it is also serving as an engine for growth in other parts of the region. We at the Asian Development Bank are always eager to strengthen our partnership with India in support of continued progress, and to better understand, and share with other countries in developing Asia, the lessons of India's success.
Notwithstanding that success, India still has vast investment needs, particularly in the infrastructure sector. As I have discussed with Government officials today, ADB is prepared to enhance the scale and scope of our development assistance to India. In particular, we are ready to support the Government of India in formulating innovative methods for infrastructure financing, including public-private partnerships, while we continue to strengthen our private sector operations in India. Tomorrow, I will also be meeting with business leaders to share information about ADB's approach, and hear about their views on future challenges and opportunities.
Before opening the floor for questions, I would like to take a moment to thank the Government and the people of India for their support of the Asian Development Bank. I am also happy to announce that India will be hosting ADB's 39th Annual Meeting in Hyderabad. I am pleased to say that arrangements are now underway for the meeting, which will take place at the International Convention Centre in Hyderabad from 3-6 May, 2006. This will be the second time India has hosted ADB's annual meeting - the first was in 1990 in New Delhi. We are expecting around 3,000 delegates including government officials, representatives from the financial sector, media and civil society organizations to attend in 2006. It will be a great opportunity for India to showcase its impressive development, particularly in the information technology sector.
On that note, I will be now happy to take any questions.
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