Developing Asia Needs To Accelerate Reforms, Says ADB President Chino

SHANGHAI, PEOPLE'S REPUBLIC OF CHINA (12 May 2002): Developing Asia is recovering earlier than anticipated, but this does not mean all development issues have been resolved, said Asian Development Bank (ADB) President Tadao Chino at the close of ADB's 35th Annual Meeting of the Board of Governors.

ADB's developing member countries "need to accelerate policy and structural reforms; invest in human resources, including Information Technology-related capacity building; empower women; and vigorously pursue good governance efforts," said Mr. Chino.

He said Governors has expressed satisfaction that ADB was implementing its poverty reduction strategy in an effective manner. In this context, he said, "the additional resources provided by some donors were highly appreciated." He noted that some Governors emphasized the important role that trade can play in stimulating growth and reducing poverty. They also highlighted the need to increase private sector participation in this process.

Mr. Chino said that ADB Governors had also welcomed the reorganized structure of ADB's operational departments for the effective implementation of ADB's Long-Term Strategic Framework, Medium-Term Strategy and strategy for Pacific operations. They hoped the integration of ADB's programming and project processing functions would enable more effective implementation of country programs and ensure more accountability for results and greater gender equity in the workplace. The President said the Governors also welcomed new ADB policies on private sector operations, social protection, water, and information and communication technology. He added they also appreciated ADB's offer of more competitive loan products.

The Governors also welcomed the opportunity for ADB to contribute to the reconstruction of Afghanistan, Mr. Chino said. They had noted with satisfaction the lead role that ADB is playing in the international efforts to support the country and its neighbors in Central Asia.

The Governors also appreciated ADB's efforts to counter environmental degradation and promote regional cooperation, said Mr. Chino. They also highlighted the importance of measuring the impact and effectiveness of ADB's operations. He said the Governors noted that ADB was reviewing its Inspection Function and said this should strengthen its credibility and effectiveness.

Mr. Chino said the Governors also welcomed the establishment of ADB's NGO Center and said ADB will ensure the Center significantly enhances ADB's dialogue with civil society. Finally, the President said ADB will also work more closely with bilateral and multilateral developments agencies. Memoranda of understandings signed with the World Bank, United Nations Development Programme, World Trade Organization and the International Labor Organization reflect this, he said.

The Annual Meeting was attended by a record 2,800 participants including representatives from multilateral and bilateral institutions, members of the global financial community, and civil society.

The 36th Annual Meeting will be held in Istanbul, Turkey.

Ian Gill
Tel: 5049 6098
Email: igill@adb.org