Closing Statement
By
Haruhiko Kuroda
President
Asian Development Bank
At the 40th Annual Meeting
7 May 2007
Kyoto, Japan
Introductory remarks
Mr. Chairman, Governors of the Asian Development Bank, distinguished guests, ladies and gentlemen.
The 40th Annual Meeting is now coming to a close. This has been a memorable and successful meeting. The various events and discussions that have taken place show how far we have progressed in fulfilling the vision of ADB's founding fathers. At the same time, we recognize the challenges and opportunities that lie ahead. I thank Governors for their insights on how the role of ADB can evolve while ensuring that it continues to respond to the needs of all developing member countries.
Let me briefly review a few highlights of this Annual Meeting.
The Region
Governors observed that developing Asia and the Pacific achieved yet again its highest growth rate since the Asian financial crisis. This growth is contributing to a further decline in absolute poverty in Asia, while enhancing confidence in the region's further economic development.
Despite this, about 620 million people continue to live on less than one dollar per day. Rising inequality across the region poses a challenge to social stability and growth. Too many people do not have access to employment because they lack the necessary knowledge and skills. Achieving the millennium development goals remains a major challenge for the region and ADB should play a central role. While there is reason to celebrate the reduction of poverty in Asia and the Pacific, prosperity must be accompanied with improved equity and social progress.
Governors agreed that the region's growth must be sustainable. We must use natural resources wisely and efficiently and in ways that do not pose environmental and health hazards. With the region's growth contributing to higher greenhouse gas emissions, Governors similarly agree on the need for cooperation and greater investment in cleaner and more efficient energy use and alternative energy sources.
ADB in the Region
Most Governors welcome recovery in ADB's soverign lending in 2006.
Governors appreciated the Report of the Eminent Persons Group. They viewed positively many of the Report's recommendations but also drew attention to areas which in their view were missing or merit more careful consideration. The debate that has surrounded the Report of the Eminent Persons Group underscores the imperative for ADB to evolve to meet new challenges while staying focused on poverty reduction.
For this purpose, I have initiated the review of our Long Term Strategic Framework, to which the EPG Report provides important input. We will define, through consultations with stakeholders, our path to the future.
Governors noted that infrastructure will remain essential to ensure the poor benefit from the region's prosperity. Infrastructure not only supports economic growth, but also connects children to schools, families to health care, and all people to economic opportunities. It is also an area where ADB has a distinct comparative advantage, and decades of experience. Governors agreed that ADB should improve the investment climate for private sector participation and scale up its infrastructure financing, while ensuring a clear linkage with improvements in people's standards of living.
Governors also emphasized that ADB continue to promote good governance and anticorruption activities, and pursue its internal reforms to improve institutional effectiveness and quality of services.
I appreciate the Governors' support for our Regional Cooperation and Integration Strategy, and the Facility we have designed to support it. We are committed to a more proactive role in regional cooperation and integration to help less developed countries benefit from the global economy.
I am grateful to Governors for their continuing support for ADB's efforts on sustainable development. ADB's Clean Energy and Environment Program will assist our developing member countries to deal with their energy and climate-related challenges. Governors welcomed the ADB Board's approval of the establishment of the Asia Pacific Carbon Fund. And Governors also supported an enhanced role for ADB in using knowledge and supporting innovation and technology to shape the regions' response to emerging challenges.
The Asian Development Fund is critical to assist low-income developing member countries to meet their challenges. I am pleased that donor members agreed to begin negotiations on the Fund's replenishment - ADF X. Further scaling up of assistance and effectiveness is critical to achieve lasting impacts in ADF recipient countries including those in fragile situations or facing debt distress.
Concluding remarks
Governors:
As our 40th Annual Meeting draws to a close, I would like to reaffirm my commitment to work closely with you to evolve the role of ADB and to realize the shared vision of a region free of poverty.
It has been a privilege to meet with you here in Kyoto to celebrate these 40 years of progress in Asia and the Pacific and discuss how we will bring further success and prosperity to the region.
I would like to express our deep appreciation and gratitude to the Chairman, the Honorable Koji Omi, Minister of Finance of Japan, for the excellent arrangements. And I especially want to thank the City and the people of Kyoto, who, through their warm and gracious hospitality have made this 40th anniversary of the ADB a very special occasion.
I would also like to congratulate the Governor for Spain, who will serve as Chairman of the Board of Governors for the coming year.
Finally, I wish all of you a safe and pleasant journey home. I look forward to seeing you next year when we will meet in Madrid on the occasion of ADB's 41st Annual Meeting. Thank you, and best wishes to all of you.
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