Manila, June 13, 2006 AEST (ABN Newswire) - Asian Development Bank (ASX: ATB) has launched its new medium-term strategy, covering 2006-2008, to strengthen the poverty-reducing impact of its assistance. To this end, it has adopted five priorities: (i) catalyzing investment, (ii) strengthening inclusiveness, (iii) promoting regional cooperation and integration, (iv) managing the environment, and (v) improving governance and preventing corruption.
The new strategy is also designed to make ADB operations more selective and focused. It is the second in a series of medium-term strategies designed to flesh out the approach of the Long-Term Strategic Framework: 2001-2015 for shorter time periods, adjusting operational priorities in response to evolving conditions in each period.
"The new medium-term strategy sets out our vision of being an institution that is more effective and responsive to the needs of a region that is rapidly changing," ADB President Haruhiko Kuroda says. "It will strengthen the impact of our assistance on poverty reduction, and better support the efforts of developing member countries to attain the Millennium Development Goals."
The strategy emphasizes the importance of improving the investment climate as a prerequisite for sustaining high growth, job creation and rising productivity, the key levers for raising incomes and reducing poverty.
The strategy underlines the importance of rural infrastructure development and social development for strengthening inclusiveness and the poverty-reducing impact of growth. It also places a priority on support for regional cooperation and integration as a platform for reinforcing country level efforts to reduce poverty and cross-country disparities.
Securing the poverty reducing benefits of growth has to be combined with environmental sustainability. The strategy, therefore, aims at increasing ADB's assistance for environment protection, particularly for energy efficiency and urban environment improvement.
As the poor are often the worst victims of weak governance, the strategy has identified strengthening governance and preventing corruption as priorities. ADB is working closely with other multilateral development banks to develop a common framework for preventing corruption.
Apart from its five priorities, the new strategy also discusses several adjustments in ADB's operational model. In future the core operational sectors will include road transport, energy, urban infrastructure, rural infrastructure, education, and financial services. ADB's role in leveraging additional development investment through financing partnerships is emphasized, as well as the strengthening of project implementation to achieve development results.
Contact
Graham Dwyer
Email: gdwyer@adb.org
Tel:+632 632 5253; +632 898 3413; +63 915 741 4363
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