ADB President and PRC Vice President of Development Research Center Meet at ADB | Asian Development Bank

ADB President and PRC Vice President of Development Research Center Meet at ADB

News Release | 29 June 2018

MANILA, PHILIPPINES (29 June 2018) — Asian Development Bank (ADB) President Mr. Takehiko Nakao and People’s Republic of China (PRC) Secretary of the Party Leadership Group and Vice President of the Development Research Center (DRC) Mr. Ma Jiantang met at ADB headquarters today and discussed knowledge sharing between ADB and the PRC, and the PRC’s goal of sustainable high-quality growth.

Mr. Nakao reaffirmed ADB’s strong partnership with the PRC through lending and knowledge work. He said ADB is supporting the PRC’s priorities through initiatives such as the Beijing-Tianjin-Hebei Air Quality Improvement Project and the Yangtze River Economic Belt Projects, as well as those addressing environmental management and demographic transition.

Mr. Ma expressed his appreciation for DRC’s continued work with ADB on policy research and studies. Mr. Nakao said ADB and DRC can cooperate on the Belt and Road Initiative, with due considerations for issues such as economic feasibility and debt sustainability. They discussed the possibility of conducting joint knowledge work on regional cooperation, considering ADB’s long-term focus on connectivity in Central Asia and the Greater Mekong Subregion as well as across South Asia and the Pacific.

Mr. Ma also gave a lecture titled “The Challenges of Achieving High Quality Growth in the PRC,” as part of the ADB Asia Development Policy Lecture Series, which attracted about 100 people at ADB headquarters.

Last August, ADB signed a memorandum with DRC’s Center for International Knowledge on Development, which laid out a framework for building effective knowledge partnerships through research collaboration, sharing good practices, and conducting trainings and seminars.

The PRC became an ADB member in 1986. Between 1986 and 2017, ADB provided nearly $38 billion in loan assistance to the PRC, comprising $34 billion for the public sector and $4 billion for the private sector. ADB has also supported the country through knowledge work, with $334 million in technical assistance grants approved since 1986.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members—48 from the region. In 2017, ADB operations totaled $32.2 billion, including $11.9 billion in cofinancing.