- Key Facts
- Board of Governors
- Board of Directors
- Departments and Offices
- Policies and Strategies
- Annual Meetings
- Independent Evaluation
- Public Sector (Sovereign) Financing
- Private Sector (Nonsovereign) Financing
- Funds and Resources
- Asian Development Fund
- Investor Information[日本語]
- Business Opportunities
- Consulting Services
- ADB-Japan Scholarship Program
- News & Events
- Data & Research
- Industry and Trade
- Information and Communication Technology
- Public Sector Management
- Social Protection
- Capacity Development
- Climate Change
- Environmental Sustainability
- Gender and Development
- Poverty Reduction
- Private Sector Development
- Regional Cooperation and Integration
- Social Development
- Urban Development
- Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA)
- Central Asia Regional Economic Cooperation (CAREC)
- Greater Mekong Subregion (GMS)
- Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT)
- South Asia Subregional Economic Cooperation (SASEC)
- European Representative Office
- Japanese Representative Office [日本語]
- North American Representative Office
- Pacific Liaison and Coordination Office
- Pacific Subregional Office
Countries with Operations
- China, People's Republic of [中文]
- Cook Islands
- Indonesia [Bahasa Indonesia]
- Kyrgyz Republic
- Lao PDR
- Marshall Islands
- Micronesia, Federated States of
- Papua New Guinea
ADB to Boost Economic Management in Pacific to Help Region Cope with Crisis
MANILA, PHILIPPINES - The Asian Development Bank (ADB) will assist the Pacific region to improve economic management and in doing so will help the region weather the impacts of the global economic crisis.
"Sound economic management will be key to the Pacific minimizing the impact of the global downturn," says S. Hafeez Rahman, Director General of ADB's Pacific Department.
A grant of US$3.5 million will be used to assist ADB's Pacific developing member countries prepare a national response to the global crisis.
"The technical assistance provides for ADB's contribution to a joint effort by development partners to help the Pacific lessen the effects of the global crisis through improved economic monitoring, and policy analysis," says Craig Sugden, ADB Country Economist and project team leader. "The project aims to generate longer-term benefits by helping the Pacific region develop their systems and processes for economic management."
With the help of mentors, ADB will assist decision makers and senior economic advisers of ADB's Pacific developing member countries apply key lessons learned from the Pacific and other regions toward successful economic reform.
Another major activity funded by the grant is the development of a Pacific Economic Monitor. The monitor will be prepared as a compilation of data and economic analysis of the impact of the global economic crisis. The Pacific Economic Monitor will be disseminated widely to raise public awareness of key public policy issues.
The ADB technical assistance project will be financed by ADB's technical assistance funding program (TA Special Fund IV). ADB will provide $3 million equivalent, and Pacific developing member country governments will finance the remaining $0.5 million.
Resource allocations will depend on prospects for sustainability, the vulnerability of Pacific economies to the global economic crisis, and other development partner activities in this area.