Closing Remarks by ADB President Haruhiko Kuroda at the Third ADF XI Replenishment Meeting on 9 March 2012

Madame Chair, Ladies and Gentlemen,

We have had three days of very productive discussions. Let me first express my deep appreciation of your support and contribution to ADF XI, and for sharing your insights and advice with us.

You have been generous in your contributions to ADF XI, particularly in light of the current economic situation. I appreciate your recognition of the tremendous poverty challenges facing ADF countries, your acknowledgment of ADB's track record, and your expression of confidence in ADB's capacity to deliver effective assistance in ADF countries.

Your contribution will significantly support ADF countries in their endeavors to reduce poverty and meet the Millennium Development Goals' (MDG) targets. I assure you that ADB will make the utmost effort to effectively and efficiently use these valuable ADF resources.

We have been able to reach consensus on the outstanding issues. I thank you for all your efforts and cooperation, which have enabled this consensus to emerge. My team will start working on the next steps agreed in the meeting.

In our discussions on reforms, there was widespread recognition of the importance of constant learning and adaptation to respond better to the changing needs and our operating environment. This point resonates strongly with me. The constant search for better ways to improve our performance is deeply rooted in our work, so that we can maximize the development impact of valuable contributions to the ADF. We will consolidate and deepen our many completed and ongoing reforms. Some of you have stated that "business as usual" has ceased to be a viable mode of operation in today's Asia and the Pacific. I fully agree. The ADB's reform and transformation process continues, in support of the tremendous challenges, changes and developments taking place in Asia and the Pacific, as well as in the rest of the world.

I thank you for your recognition of our work in introducing a results-based management system in ADB. We have learned much through our experience over the past four years. Implementing and improving a results-based management approach is an ongoing endeavor. We are fully committed and will carry forward our results-based reform agenda. The current review of the results framework will refine our work in this area. We will reflect our own experiences as well as learn from others. And, we will carefully listen and consider your comments and suggestions.

Let me close by thanking Madame Chair for effectively managing the negotiation, each and every one of the donors for your contribution to the ADF, our DMC representatives for sharing your first-hand experience on ADF and ADB operations, and all the participants for sharing your ideas on issues pertaining to ADF.

I wish all of you a safe and pleasant trip back home, and look forward to seeing you again during the ADB Annual Meeting in May here in Manila.

Thank you.