BEIJING, PEOPLE'S REPUBLIC OF CHINA - Asian Development Bank (ADB) President Takehiko Nakao agreed with senior government officials of the People's Republic of China (PRC) on the need to further deepen ADB's partnership with the PRC to support green and inclusive growth during a three-day visit to the country.
"In supporting the PRC's development, ADB looks forward to particularly focusing on innovative projects, and supporting more environmentally sustainable and inclusive development," Mr. Nakao said. "The partnership, including knowledge work and cofinancing, will also further benefit the Asia and Pacific region."
Mr. Nakao met with ADB Governor and Minister of Finance Lou Jiwei and other senior government officials. He also visited an ADB-financed project in the Hebei province.
Under the Country Partnership Strategy, ADB has aligned its priorities with the country's 12th Five-Year Plan, in particular the redoubling of efforts to promote socially inclusive development and environmental protection.
From 2013 to 2015, ADB has programmed $4.21 billion in assistance to the PRC. Much of the funding is split almost evenly between urban development, water supply and sanitation, and transport, with the remainder going to agriculture and natural resources and energy.
More than 90% of ADB lending is aimed at the less developed western and central regions, among the poorest areas in the PRC.