ADB Review - August 2008

NEWS FROM THE ASIAN DEVELOPMENT BANK August 2008

ADB Review provides an electronic digest of activities of the Asian Development Bank.

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In this issue, read about how Asian integration offers a new platform to promote growth and stability in the region, the passing of former President Tadao Chino, East Asia’s economic prospects for the next couple of years, and ADB’s expanding private sector operations in the Pacific. Featured is how new school buildings are allowing the children of Cambodia to dream of a better life. Also, find out the latest on ADB events, publications, opportunities, and operations.

Top News
Asian Integration Vital to Growth and Managing Risks, Says ADB Study
Economic integration in Asia is becoming increasingly important to global growth and managing shared risks in the region, according to a new study. The financial crisis of 1997/98 exposed the region’s vulnerabilities and gave new impetus to regional cooperation, says Emerging Asian Regionalism: A Partnership for Shared Prosperity.

Former ADB President Tadao Chino Dies
Tadao Chino, former ADB President, passed away in Tokyo, Japan, on 17 July at the age of 74. Serving as ADB President from 1999 to 2005, Mr. Chino steered ADB through a challenging period and was a strong voice for eradicating poverty.

Emerging East Asia's Growth to Moderate as Inflation Threat Looms, Says ADB
Economic growth in emerging East Asia will moderate to 7.6% in 2008 and 2009 as the region weathers a global economic slowdown, sharp rises in food and energy prices, and volatility in financial markets, says the July issue of Asia Economic Monitor.

ADB Triples Private Sector Development Operations in the Pacific
ADB is effectively tripling the scope of its private sector development activities in the Pacific islands, with a current portfolio of 63 private sector reform projects, up from 20 projects last year.

ADB Establishes Future Carbon Fund
ADB has established a new fund that will use carbon credits generated beyond 2012 to provide urgently needed financing for clean energy projects in the Asia and Pacific region.

Entries Open for 2008 ADBI Awards for Journalists Reporting on Development
The Tokyo-based ADB Institute announced it is again sponsoring the Developing Asia Journalism Awards to acknowledge Asian and Pacific print journalists who cover development trends.

New Lending Rates for US Dollar and Japanese Yen Loans
ADB has revised its lending rates for both its US dollar and Japanese yen loans. For the period 1 July to 31 December 2008, the lending rate for US dollar pool-based loans will decrease from 6.12% to 5.64%. The lending rate for the Japanese yen pool-based loans will increase from 1.90% to 1.98%.

ADB Committed to Supporting Gender Equality
ADB President Haruhiko Kuroda became the latest recipient of the MDG3 Champion Torch, committing the institution to support gender equality and women’s empowerment.

•	Mongolia to Improve Resource Management in the Onon River Basin Residents of northeastern Mongolia will be given the opportunity to play a more active role in managing and conserving their natural resources through a $2 million grant.
•	ADB Supporting Timor-Leste in Major Road Improvement Project A major road improvement project crucial to promoting sustainable economic growth and integration in Timor-Leste will receive assistance from Japan and ADB.
•	Helping Bangladesh Cope with Rising Food Prices ADB is extending a $170 million loan to Bangladesh to cope with the current food crisis as part of a broader food security package.
•	New Approach to Skills Training in Viet Nam A $1.3 million grant project is helping poor and ethnic minorities of Viet Nam develop skills that will boost their chances in the job market or enable them to launch small businesses.
•	Upgrading Access Roads in Remote Areas of Mongolia's Western Region A $2 million grant project will help upgrade access roads in Western Mongolia, giving greater access to international markets to isolated rural communities.
•	ADB, UN Jointly Implementing Projects in Lao PDR to Help Poor Farmers ADB and the United Nations Office on Drugs and Crime have joined forces to implement projects in the Lao PDR to help poor farmers adopt sustainable livelihood programs.
•	Investments in Maldives to Make Housing Affordable and Accessible ADB, International Finance Corp., and HDFC Investments Ltd. are investing in Maldives to help reduce the country’s severe housing shortage.

News from Resident Missions
Preliminary Inspection of Sichuan Earthquake Damage Concluded
Staff from ADB’s Resident Mission in the People’s Republic of China and Private Sector Operations Department met with local officials, private sector, and civil society, launched an ADB emergency relief technical assistance project, and visited project sites and hard-hit areas.
ADB-Supported Switch Program Launched
Philippine Office Country Director Neeraj Jain joined the launch of an energy-saving program for Metro Manila that aims to replace incandescent bulbs with compact fluorescent lights to reduce electric costs. Philippines' President Gloria Macapagal Arroyo and Secretary of Energy Angelo Reyes led the launch.

Speech
Asia's Economic Outlook, Risks and Policy Issues
"Many countries face a growing dilemma on monetary policy: how to gauge the right mix to control rising inflation without excessively slowing economic growth,” ADB President Haruhiko Kuroda said in his speech at the Foreign Correspondents’ Club of Japan on 4 July. “Raising rates may hamper domestic demand growth precisely when it is needed most."

Features
Building the Future of Cambodia's Children
In Chhouk Sar commune in Kampong Chhnang province, Cambodia, children hanker for a life beyond farming, the main source of income, and see education as a key to creating more options.

•	From the Ground Up: Case Studies in Community Empowerment
•	Fighting Bribery in Public Procurement in Asia and the Pacific
•	Asia Development Fund X Donors’ Report: Towards an Asia and Pacific Region Free of Poverty
•	Mutual Legal Assistance, Extradition and Recovery of the Proceeds of Corruption in Asia and the Pacific
•	Market Survey of Subnational Finance in Asia and the Pacific
•	Managing Microfinance Risks: Some Observations and Suggestions

Opportunities
Careers Business

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Upcoming Events Operations Updates [ PDF ]

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