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Pakistan suggests ADB to strengthen its resident mission

Written by The Frontier Post

MANILA (APP): Pakistan on Saturday, proposed Asian Development Bank (ADB) to further strengthen its resident missions to oversee the operations of projects more effectively and augment the locally deficient capacities.

“The ADB may also further strengthen its capacity to support social sector, help expand private sector, operations including Public-Private-Partnerships (PPPs), enabling development member countries to address these challenges,” Secretary of Economic Affairs Division, Syed Ghazanfar Abbas Jilani said, who is heading Pakistani delegation, while addressing the 51st annual meeting of Board of Governors of the ADB here.

He said the recent initiatives in CAREC and the China Pakistan Economic Corridor (CPEC) will contribute to improve regional connectivity, build modern infrastructure, and create enormous job opportunities in the whole region.

In this regard, he said the ADB’s continued technical and financial assistance was highly commendable and would enhance regional connectivity and trade between CAREC member countries.

Jilani said many of the development member countries had continued to face challenges caused by entrenched poverty and vulnerability, global economic uncertainty, climate change and environment degradation, urbanization and aging, therefore, it was imperative for ADB to build on its strength to support infrastructure financing and regional integration.

“The 21st century has distinctive characteristics with a shift from industrial economies to knowledge-based economies, today Asia is ready to leave this momentous transformation. If the potential of our economy is fully harness through appropriate policies and plan of actions, Asia will certainly play a far greater role in world affairs in promoting global well being,” he added.

He said in the realization of ADB’s vision of poverty free prosperous Asia pacific region, “I would like to specifically mention that we had useful discussion on the strategy 2030 early this morning which will continue to engage us till its finalization later this year”.

He also appreciated ADB president’s role in introducing reforms and initiatives which were being implemented by the ADB leadership.

“I would also like to appreciate the expansion of ADB’s operation during the recent years by mobilizing more financial resources through the merger of ADB’s Asian Development Fund and ordinary capital resources facilities as well as arranging co-financing from other bilateral and multi-lateral partners.”

He said, “special importance are the ADB’s policy-based programme loans that proved pivotal in supporting the reform agendas of the developing member countries”.

He said the government of Pakistan also “appreciates the proposal regarding the project readiness technical assistance loan with advance facilities.”

“We would emphasize augmentation of support for public private partnership to address the evolving needs and operating environment of developing member countries as well as leverage for the funding for the development needs,” he added.

He said result based lending was another very effective modality initiative by the ADB in the year 2013 and he hoped that the share of result-based lending would continue to enhance.

Meanwhile, MANILA (APP): Strategy 2030, the new long-term strategy of the Asian Development Bank (ADB) to be released this year, will renew ADB’s strong commitment to eradicate extreme poverty in Asia and the Pacific and expand the bank’s vision to achieve a prosperous, inclusive, resilient, and sustainable region, ADB President Takehiko Nakao said in his opening address at the 51st Annual Meeting of ADB’s Board of Governors.

With the theme of “Linking People and Economies for Inclusive Growth,” this year’s Annual Meeting was attended by over 4,000 delegates from member governments, academics, business leaders, and civil society representatives.

In this opening address, Nakao appreciated the strong support of the Philippines as ADB’s host country since 1966 and thanked the government and its people for the excellent arrangements and warm hospitality.

He highlighted Strategy 2030 which is in the consultation process, ADB’s achievements in 2017, continued solid growth of Asian economies, and impacts of new technologies on jobs.

In his remarks, Nakao said Strategy 2030 will address existing and emerging challenges. “There is still persistent poverty,” Nakao said.

“We must address rising inequality, growing environmental pressures, and rapid urbanization. Aging in some countries and an increasing youth population in others present opportunities as well as challenges.”

Strategy 2030 will be aligned with the international agenda, including the Sustainable Development Goals and the Paris Agreement on climate change.

Strategy 2030 will have 10 priorities: (1) tackle remaining poverty and increasing inequalities in Asia and the Pacific; (2) accelerate progress in gender equality; (3) scale up support to combat climate change, build climate and disaster resilience, and enhance environmental sustainability; (4) build livable cities that are competitive, green, resilient, and inclusive; (5) promote rural development and food security; (6) strengthen governance; (7) foster regional cooperation and integration; (8) mobilize private sector resources to meet the region’s huge development financing needs; (9) further strengthen ADB’s role as a provider and facilitator of knowledge; and (10) pursue a stronger, better, and faster ADB.

“We will continue to use our financial resources efficiently and creatively,” Nakao said. “We will invest in our workforce, promote diversity including gender balance, and ensure a respectful workplace. We will expand our presence on the ground. We will dramatically modernize business processes to speed up our services to clients. A One ADB approach will break down silos and bring together expertise across ADB,” he added.

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 coADB president pledges to pursue prosperous, inclusive, resilient, sustainable region.

Strategy 2030, the new long-term strategy of the Asian Development Bank (ADB) to be released this year, will renew ADB’s strong commitment to eradicate extreme poverty in Asia and the Pacific and expand the bank’s vision to achieve a prosperous, inclusive, resilient, and sustainable region, ADB president Takehiko Nakao said in his opening address at the 51st Annual Meeting of ADB’s Board of Governors.

With the theme of “Linking People and Economies for Inclusive Growth,” this year’s Annual Meeting was attended by over 4,000 delegates from member governments, academics, business leaders, and civil society representatives.

In this opening address, Nakao appreciated the strong support of the Philippines as ADB’s host country since 1966 and thanked the government and its people for the excellent arrangements and warm hospitality.

He highlighted Strategy 2030 which is in the consultation process, ADB’s achievements in 2017, continued solid growth of Asian economies, and impacts of new technologies on jobs.

In his remarks, Nakao said Strategy 2030 will address existing and emerging challenges. “There is still persistent poverty,” Nakao said. “We must address rising inequality, growing environmental pressures, and rapid urbanization. Aging in some countries and an increasing youth population in others present opportunities as well as challenges.” Strategy 2030 will be aligned with the international agenda, including the Sustainable Development Goals and the Paris Agreement on climate change.

Strategy 2030 will have 10 priorities: (1) tackle remaining poverty and increasing inequalities in Asia and the Pacific; (2) accelerate progress in gender equality; (3) scale up support to combat climate change, build climate and disaster resilience, and enhance environmental sustainability; (4) build livable cities that are competitive, green, resilient, and inclusive; (5) promote rural development and food security; (6) strengthen governance; (7) foster regional cooperation and integration; (8) mobilize private sector resources to meet the region’s huge development financing needs; (9) further strengthen ADB’s role as a provider and facilitator of knowledge; and (10) pursue a stronger, better, and faster ADB.

“We will continue to use our financial resources efficiently and creatively,” Nakao said. “We will invest in our workforce, promote diversity including gender balance, and ensure a respectful workplace. We will expand our presence on the ground. We will dramatically modernize business processes to speed up our services to clients. A One ADB approach will break down silos and bring together expertise across ADB,” he added.

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 co-financing.

 

 

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