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Closing Remarks

by
The Honorable P. Chidambaram
The Chairman of the Board of Governors
and Governor for India

At the 39th Annual Meeting

6 May 2006
Hyderabad, India

Fellow Governors, distinguished guests, ladies and gentlemen:

Wholeheartedly and with great pleasure, I join President Kuroda in thanking all of you for your participation in this year’s Annual Meeting. It has been four days of lively discussion, and I am gratified that we emerge from our deliberations with a broad-based consensus on ADB’s continuing key role in the development of Asia and the Pacific.

As President Kuroda has emphasised, the strong economic performance of the last decade and the prospects for continued, steady growth place the Asia and Pacific region at a moment of great opportunity in its fight against poverty. Much has been achieved, but there is much yet to be done.

We share, across the region, the common objective of accelerating poverty reduction and improving the standard of living for al our citizens, especially the poor. The Asian Development Bank has been an important partner in this endeavour. And it is clear that ADB is firmly committed to improving its operations to assist the region in attaining higher levels of economic and social development.

The needs of ADB’s various shareholders are diverse and changing. And ADB needs the full support and commitment of all its members – regional and non-regional, developing and developed – to effectively meet these needs. I stand with my fellow Governors in strong support of ADB’s vital mission, its goals and its achievements.

I would like to take this opportunity to thank President Kuroda for his strong leadership in a time of rapid change and growth. I commend the President, Board of Directors, Management and Staff of ADB on the milestones reached last year, and wish them success in the years ahead.

I would also like to thank the meeting secretariat for their hard work in making this annual event a success.

It has been a distinct pleasure and honour for India to host this Annual Meeting in Hyderabad. The warmth and hospitality of the people of Hyderabad and Andhra Pradesh have been essential to the success of our meeting. I join President Kuroda in thanking all of you for your participation and contribution. We wish you a safe journey home, and look forward to another fruitful meeting next year in Kyoto.