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ADB will support watershed financing and promote inclusive and environmentally friendly development in Guizhou Province of the People’s Republic of China, under a memorandum of understanding signed at a sub-forum of the Eco-Forum Global Guiyang 2014.

While its economy enjoys robust economic growth, Papua New Guinea will face challenges in continuing to generate formal job opportunities for a rapidly growing work force, according to the ADB's new issue of the Pacific Economic Monitor, launched today.

ADB Vice-President Lakshmi Venkatachalam and Samoan Prime Minister and Minister for Finance Tuilaepa Sa’ilele Malielegaoi today launched an AgriBusiness Support Project that will provide business support services and financing to agribusinesses in Samoa.

ADB President Takehiko Nakao today met with Sri Lanka’s President Mahinda Rajapaksa, as well as several ministers and senior officials, to discuss global, regional and bilateral issues, including challenges and opportunities for the Sri Lankan economy over the short to medium term.

Ministers from Indonesia, Malaysia, Solomon Islands and Timor Leste met in Manado, Indonesia and ratified an agreement to establish a Regional Secretariat for the Coral Triangle Initiative on Coral Reefs, Fisheries, and Food Security (CTI-CFF). The Regional Secretariat will spearhead the CTI-CFF’s regional cooperation programs to strengthen the management of coastal and marine resources and address climate change impacts on fisheries and livelihoods.

The six countries of the Coral Triangle Region – Indonesia, Malaysia, Philippines, Papua New Guinea, Solomon Islands and Timor-Leste – launched an innovative platform to highlight the role of women leaders in protecting and sustaining the world’s epicenter of marine biodiversity.

ADB and the Government of Bangladesh today signed a grant agreement of $2 million to develop innovative new crop insurance products that will give small-holder farmers in Bangladesh income protection from increasingly severe storms and natural disasters.

It is critical that Asia’s precious but increasingly scarce water resources are managed in a coordinated way to ensure the region has not only sufficient water but also enough food and energy to meet its needs, ADB President Takehiko Nakao said today.

ADB is providing emergency humanitarian assistance of $3 million from its Asia Pacific Disaster Response Facility to help Cambodia recover from devastating floods that have affected 1.7 million people and caused an estimated $1 billion in damage.

Asia’s economies coped fairly well with the food crisis of 2007–2012, but stagnating agricultural productivity and increasingly extreme weather are putting the region at great risk of sustained higher level food prices, says a report on food security in Asia.