ADB Reception to Honor Host Nation Philippines and Development Partners

MANILA, PHILIPPINES – The Asian Development Bank (ADB) President Haruhiko Kuroda today hosted a reception at ADB Headquarters in Manila to honor the Government and people of ADB's host country, the Philippines, and other development partners. The guest of honor was Philippines' President Gloria Macapagal-Arroyo.

The ADB reception was held to "celebrate the strong bonds that have been forged among the many communities we represent," said President Kuroda in his welcoming remarks. "More specifically, it is a privilege for ADB to pay homage to our host country – a country whose people are known the world over for their determination, pride, and dauntless spirit."

Speaking of ADB's special bond with the Philippines, President Kuroda noted that ADB has worked since its inception 42 years ago with other partners to help "bring drinking water, irrigation, education, electricity, decent housing and many other benefits to the nation's poor people."

He added that he was "very pleased as well that ADB has been able to support the government's fiscal, regulatory and legal reforms, which have also benefited the poor while enhancing the country's financial and economic resilience."

Since opening its doors in 1966, ADB has invested more than $10 billion in financial and technical assistance to the Philippines. Noting that the Philippines, so far, has fared relatively well compared with its neighbors in dealing with the global economic downturn, President Kuroda said the "Philippines is also well positioned to show great leadership in deepening economic integration both within the region and with the global economy."

President Macapagal-Arroyo offered a toast in honor of the distinguished guests and in recognition of the continued partnership between the Philippines and ADB. More than 350 guests attended the ADB reception, including Philippine government officials, members of the diplomatic community, international development organizations, bilateral donors, the private sector, academia, civil society organizations, and media.

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