ADB Vice-President Visits Pacific Region to Discuss Private Sector and Cofinancing Operations

WELLINGTON, NEW ZEALAND – Asian Development Bank’s (ADB) Vice-President Lakshmi Venkatachalam today arrived in New Zealand for a four-country visit to the Pacific region, where she will meet with senior government officials for discussions on ADB’s support.

The Vice-President, who heads ADB’s Private Sector and Cofinancing Operations, will be visiting Australia, New Zealand, Samoa, and Solomon Islands.

“ADB is working with the Pacific region to promote inclusive growth through improvements in transport, information and communications technology, education, renewable energy. It is of particular importance to create a conducive environment for the private sector, and to leverage private sector investments for foster sustainable growth,” said Ms. Venkatachalam. “Small and medium-sized private sector activities also need close attention if inclusive growth is to be realized.”

During her visit to Samoa, Ms. Venkatachalam will meet with the Prime Minister and Minister for Finance Tuilaepa Sailele Malielegaoi. She will also visit renewable energy project sites.

In Solomon Islands Ms. Venkatachalam will visit the electronic Companies Registry (Company Haus), which enables online registration of companies in Solomon Islands and contributes toward the government’s efforts to improve efficiency of doing business in the country. Online business registry development is funded by the Pacific Private Sector Development Initiative cofinanced by ADB, Australia, and New Zealand.

Ms. Venkatachalam and the Solomon Islands Government will also sign grant and loan agreements for a project that will help the government boost energy access and renewable energy generation in Auki, the capital of Malaita.

She will also visit some major ADB funded infrastructure projects and meet with development partners to discuss areas of cooperation and coordination.