JEJU ISLAND, REPUBLIC OF KOREA (17 May 2004) - The 37th Annual Meeting of ADB ended today with its President, Tadao Chino, reaffirming that the Manila-based Bank will implement all its commitments to become a more accountable, more efficient, and more transparent institution. http://www.adb2004jeju.org/annualmeeting/
This will enable the 63-member institution to effectively assist developing member countries to achieve the Millennium Development Goals (MDGs), he said.
Wrapping up the meeting, Mr. Chino said that ADB Governors had observed that the international community, including ADB and development partners, had played an important supportive role in the region's strong performance.
He noted, however, that Governors had observed that the overall growth of the region masked differences among subregions and countries on progress in reducing poverty, and particularly the non-income dimensions, which are so critical for achieving the MDGs.
Governors noted the trend towards greater regional interdependency of trade and investment, and the need for closer financial cooperation. They also noted that development policies need to emphasize how growth can be more socially inclusive by addressing gender, education, health, environment, and governance, he added.
Mr. Chino said Governors had reaffirmed that ADB's poverty reduction strategy continues to provide a sound operational framework for the Bank's overarching goal of poverty reduction and helping its DMCs achieve the MDGs.
Summarizing the proceedings, Mr. Chino said that Governors had:
· Welcomed the establishment of a results-based management unit and stressed the need to focus on implementing the action plan for managing development results, and requested results-based country strategies be aligned with national poverty reduction strategies.
· Pointed to the region's extensive physical and social infrastructure needs for sustainable economic growth, and encouraged ADB to work closely with governments and the private sector to meet these needs.
· Stressed that ADB's private sector operations need to be closely aligned with country strategies and programs and requested ADB to support small and medium-sized enterprises, and address critical financial issues such as money laundering and remittances.
· Requested ADB to provide continued support for regional cooperation in trade and investment, and for improving financial intermediation, while appreciating ADB's current efforts to issue local currency bonds and its use of partial credit guarantees.
· Emphasized the key role of education in mobilizing the productive potential of the poor; noted the importance of narrowing the digital divide to reduce income inequality and requested more support to develop the knowledge-based economy.
· Welcomed ADB's initiatives to improve its development effectiveness, including making the Operations Evaluation Department independent; strengthening senior management; preparing a new human resources strategy; establishing a new accountability mechanism; and developing a new public communications policy.
· Expressed satisfaction with the ADF IX replenishment and requested ADB to pursue efficient and effective use of these resources as well as other prudent efforts to mobilize internal resources into ADF.
In conclusion, Mr. Chino reiterated that ADB is firmly committed to reducing poverty in the Asia and Pacific region, home to two-thirds of the world's poor, most of whom are women.
The Annual Meeting was attended by around 2,500 participants, including representatives from multilateral and bilateral institutions, members of the global financial community, and civil society.
The 38th Annual Meeting will be held in Istanbul, Turkey.
Related Documents
ADB Accountability Mechanism
http://adb.org/Documents/Policies/ADB_Accountability_Mechanism/default.asp
Help Shape ADB's Public Communications Policy
http://www.adb.org/Disclosure/
Asian Development Bank http://www.adb.org
This will enable the 63-member institution to effectively assist developing member countries to achieve the Millennium Development Goals (MDGs), he said.
Wrapping up the meeting, Mr. Chino said that ADB Governors had observed that the international community, including ADB and development partners, had played an important supportive role in the region's strong performance.
He noted, however, that Governors had observed that the overall growth of the region masked differences among subregions and countries on progress in reducing poverty, and particularly the non-income dimensions, which are so critical for achieving the MDGs.
Governors noted the trend towards greater regional interdependency of trade and investment, and the need for closer financial cooperation. They also noted that development policies need to emphasize how growth can be more socially inclusive by addressing gender, education, health, environment, and governance, he added.
Mr. Chino said Governors had reaffirmed that ADB's poverty reduction strategy continues to provide a sound operational framework for the Bank's overarching goal of poverty reduction and helping its DMCs achieve the MDGs.
Summarizing the proceedings, Mr. Chino said that Governors had:
· Welcomed the establishment of a results-based management unit and stressed the need to focus on implementing the action plan for managing development results, and requested results-based country strategies be aligned with national poverty reduction strategies.
· Pointed to the region's extensive physical and social infrastructure needs for sustainable economic growth, and encouraged ADB to work closely with governments and the private sector to meet these needs.
· Stressed that ADB's private sector operations need to be closely aligned with country strategies and programs and requested ADB to support small and medium-sized enterprises, and address critical financial issues such as money laundering and remittances.
· Requested ADB to provide continued support for regional cooperation in trade and investment, and for improving financial intermediation, while appreciating ADB's current efforts to issue local currency bonds and its use of partial credit guarantees.
· Emphasized the key role of education in mobilizing the productive potential of the poor; noted the importance of narrowing the digital divide to reduce income inequality and requested more support to develop the knowledge-based economy.
· Welcomed ADB's initiatives to improve its development effectiveness, including making the Operations Evaluation Department independent; strengthening senior management; preparing a new human resources strategy; establishing a new accountability mechanism; and developing a new public communications policy.
· Expressed satisfaction with the ADF IX replenishment and requested ADB to pursue efficient and effective use of these resources as well as other prudent efforts to mobilize internal resources into ADF.
In conclusion, Mr. Chino reiterated that ADB is firmly committed to reducing poverty in the Asia and Pacific region, home to two-thirds of the world's poor, most of whom are women.
The Annual Meeting was attended by around 2,500 participants, including representatives from multilateral and bilateral institutions, members of the global financial community, and civil society.
The 38th Annual Meeting will be held in Istanbul, Turkey.
Related Documents
ADB Accountability Mechanism
http://adb.org/Documents/Policies/ADB_Accountability_Mechanism/default.asp
Help Shape ADB's Public Communications Policy
http://www.adb.org/Disclosure/
Asian Development Bank http://www.adb.org