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SPOTLIGHT
New Solutions Needed to Meet Challenges of Asia's Two Faces, ADB President Tells Annual Meeting
Asia and Pacific countries should work together to reduce disparities within the region by sustaining high economic growth and spreading the advantages of growth to the disadvantaged, ADB President Haruhiko Kuroda told the official opening of ADB's 39th Annual Meeting of its Board of Governors held during 4-6 May 2006 in Hyderabad, India. In a speech titled "The Two Faces of Asia: Working Together for a Poverty-Free Region" the ADB President emphasized that while absolute poverty is declining, inequality is growing. "Poverty, in all its aspects, remains our region's most daunting problem. Thus, the abiding passion, vision, and mission of the Asian Development Bank continues to be the elimination of poverty." he said in his speech. Read the news release and his speech "The Two Faces of Asia: Working Together for a Poverty-Free Region."
Developing Asia to Post Strong Growth in 2006-07, ADO
Developing Asian economies will deliver strong growth in 2006 supported by a broadly favorable outlook for the international economy, the continuing trend toward improved economic management, and apparent resilience to high oil prices, ADB says in a flagship annual economic publication, Asian Development Outlook (ADO). The region will achieve an overall economic expansion of 7.2% in 2006 and 7% in 2007, a marginal easing from 7.4% in 2005. "The strength of the global economy remains a key determinant of growth in developing Asia," says Ifzal Ali, Chief Economist of the Manila-based multilateral development bank. "The major industrial economies are expected to grow close to potential and global trade will remain firm this year." "Asian economies will take strength from the continuing upswing in the global electronics sector and fast growth expected in the People's Republic of China and India" he says. Read the news release.
ADB's 40th Annual Meeting to be Held in May 2007 in Kyoto, Japan
The next Annual Meeting of the Board of Governors will be held in Kyoto, Japan from 6 to 8 May 2007, and it will, among others, celebrate the 40th anniversary of ADB. It was announced at the close of ADB's 39th Annual Meeting of the Board of Governors. President Kuroda mentioned that he would like to reaffirm the continued commitment to working to achieve the MDGs and realize the dream of a region free of poverty. Read the closing statement.
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East Asia to Post Steady Growth in 2006 as PRC Moves to Check Expansion
East Asia's growth is expected to hold steady at 7.7% in 2006 before decelerating about a half percentage point to 7.1% in 2007, according to an ADB report. The region grew 7.7% in 2005. Regional inflation is expected to rise slightly to about 2.4% in 2006 and 2.7% in 2007, influenced by anticipated increases in administered prices of electricity, gas, water, and petroleum products in the People's Republic of China (PRC) and Hong Kong, China. ADB Chief Economist Ifzal Ali said "PRC growth will certainly remain rapid and Government efforts to tackle structural weaknesses that have crept into the economy during recent years of very high growth should position the region for sustainable expansion over the medium-term" Read the news release.
South Asia Growth to Moderate but Remain Strong in 2006-07
South Asia's growth is expected to moderate to 7.3% in 2006 as a result of some slowing in India and Pakistan but then rise slightly to 7.5% in 2007, according to a major ADB report. The region grew 7.8% in 2005. Average inflation for the region in 2006 is expected to increase to 6.1% as removal of subsidies on some petroleum products in a number of countries boosts domestic prices. Most countries are projected to see somewhat larger current account deficits with the regional average projected at 3% of GDP. Read the news release.
Growth in East Asian Currency Bond Markets Up to 14% in 2005-ABM
Growth in emerging East Asian local currency bond markets slowed in 2005, with fiscal consolidation and higher revenues reducing the need for new government issuance, according to a report issued by ADB. Higher interest rates and volatile trading conditions also contributed to the growth moderation. However, Emerging East Asian local currency bond markets expanded in absolute size and, importantly, as a percentage of GDP in 2005, with the volume of outstanding local currency bonds reaching $1.7 trillion, up 14% from 2004, according to the March edition of Asia Bond Monitor. Emerging East Asia is defined as the Association of Southeast Asian Nations member countries, plus the People's Republic of China (PRC); Hong Kong, China; and the Republic of Korea. Read the news release.
ADB Operations Jump to US7.4 Billion Dollars in 2005
The volume of ADB's operations in 2005 increased by 30% from the previous year to US$7.4 billion, according to the ADB Annual Report 2005. With $5.8 billion approved for 64 projects, lending made up 78% of total operations. Grants approval sharply increased from $104.4 million in 2004 to $1.2 billion in 2005, with almost half the amount coming from the Asian Tsunami Fund and another $80 million from the Pakistan Earthquake Fund. The $5.8 billion was used for 72 loans for 64 projects in the public and private sectors in 2005, the Report says. The average loan size in 2005 was $81 million, compared with $66 million in 2004. The largest borrower in 2005 was the People's Republic of China (PRC), which received $1.5 billion or 26% of the total. Other top borrowers were Indonesia ($1.1 billion or 19%) and Pakistan ($776 million or 13%). Read the news release.
Panel Calls for ADB to Adopt New Approaches to Water Policy
ADB must "do more and do better" to translate its Water for All policy into action, according to a report released by an independent panel of experts. The report, arising from an external review of the implementation of ADB's Water Policy, was unveiled during a meeting with civil society, nongovernment organizations, and other delegates attending ADB's Annual Meeting in Hyderabad. Key findings to improve ADB's efforts in the water sector were presented by Review Panel Chair Erna Witoelar. "Water is a key driver for change in the region," Ms. Witoelar said. "ADB must 'think outside the box' and conduct 'business unusual' to improve conditions in Asia's water sector and to meet the Millennium Development Goals by 2015. Significant resources and a change in the way ADB does business are required." Read the news release.
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Forthcoming Events
June
Upcoming Seminar at JRO
JRO is planning to organize a business seminar entitled "Private Finance Initiative (PFI) in Asia and the Role of ADB" inviting private sector in Japan. Further information will be posted on JRO website soon. (Language: Japanese)
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Recent Events
17-19 April
Seminar on Trade Facilitation - Customs Reform and Modernization
ADB, ADB Institute, Japan Customs Administration, and the World Customs Organization co-hosted a seminar on trade facilitation at ADBI with 40 senior officials from central Asian countries participating. It focused on the sharing of the experience of Japan on customs modernization.
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11 April
Special Seminar "Dynamic South Asia"
Kunio Senga, Director General of South Asia Department, ADB, spoke on many aspects of expanding South Asian economy in the afternoon of 11 April at JRO.
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7 April
Conference on "Asian Development Outlook 2006"
This year's ADB's annual economic forecast report, Asian Development Outlook (ADO) 2006, was released on 6 April. JRO hosted a conference on the report at Nippon Press Center Building in the morning of 7 April. Chief Economist Ifzal Ali spoke on the report and answered questions.
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27 March
Forum on "Prospects of Asian Bond Primary Market"
ADB and National Institute for Research Advancement (NIRA) co-hosted the forum on Asian Bond Primary Market at Maison Franco-Japonaise, Tokyo, in the afternoon of 27 March.
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27 March
Conference on Development of Asian Bond Markets
To disseminate the review of the latest Asian Bond Monitor, which covers the bond markets in 12 East Asian member countries and published by ADB twice a year, JRO hosted a conference on Asian Bond Monitor in the morning of 27 March. Masahiro Kawai, Head of Office of Regional Economic Integration, ADB, spoke on the topic and answered questions.
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For inquiries about ADB events, please e-mail to
Kazushi Sato at JRO: ksato@adb.org
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Asian Development Bank Annual Report 2005
ADB Annual Report 2005 is now available online. It takes a fresh approach to presenting the year's activities and operational results. As part of ADB's efforts to become a more effective and transparent public institution, the report focuses on results and provides examples of the ways ADB is improving lives in Asia and the Pacific. |
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Asian Development Outlook 2006
This 18th edition of the Asian Development Outlook provides a comprehensive economic analysis of 43 economies in developing Asia and the Pacific. Using the Asian Development Bank's unique knowledge of the region, it examines trends and prospects in Central Asia, East Asia, South Asia, Southeast Asia, and the Pacific, in the context of global economic movements. An important theme is how developing Asia can best position itself to maximize the benefits of international trade. |
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Procurement Guidelines: April 2006
New Procurement Guidelines of ADB have been released. Following a comprehensive review, the Guidelines have been revised significantly. They contain the policies that govern the procurement of goods, works and services (other than consultant services) required for the projects assisted by ADB.
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 Guidelines on the Use of Consultants by ADB and Its Borrowers: April 2006
New Guidelines on the Use of Consultants have been released. The online edition is free of charge. An applicable shipping and handling fee will be charged for hard copy orders of this publication.
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Other ADB Publications
- For further inquiries about ADB publications, please e-mail to Keiko Kawazu at JRO: kkawazu@adb.org
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- Please send feedback on our e-Newsletter to Keiko Hamada at JRO: khamada@adb.org
- For general inquiries, please e-mail to Kazushi Sato at JRO: ksato@adb.org
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Asian Development Bank
Japanese Representative Office
Second Floor, Yamato Seimei Bldg.1-7,
Uchisaiwaicho 1-Chome
Chiyoda-ku, Tokyo 100-0011, Japan
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Tel. + 81 3 3504 3160
Fax. + 81 3 3504 3165
Web site: http://www.adb.org/JRO/
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