Bank makes plans to address Asia, Pacific issues

The National Business

NADI: Responding to the changing needs of Asia and the Pacific will be at the centre of the Asian Development Bank’s (ADB) actions to implement Strategy 2030, said ADB President Takehiko Nakao at the 52nd Annual Meeting of ADB’s Board of Governors in Fiji.
ADB is preparing seven operational plans as well as action plans for private sector operations and knowledge management to advance implementation of Strategy 2030.
ADB’s new lending and grant operations in 2018 grew to a record US$21.6 billion (K71bil) compared to US$13.9 billion (K46bil) in 2013, an increase of 55 per cent.
Speaking to an audience of ADB member government officials, academics, business leaders and civil society representatives, Nakao said going forward, ADB will intensify its focus on quality and innovation in its operations, while maintaining moderate volume growth.
Nakao highlighted six areas that ADB considers essential to the strategy’s success.
First, he said a key priority for ADB would be to continue addressing remaining poverty and reducing inequalities across Asia and the Pacific.
“We will strengthen our support to the poorest and most vulnerable countries in the region, including those in fragile and conflict-affected situations and many small island developing states,” Nakao said.
ADB is supporting this year’s G20 initiative of universal health coverage.
Secondly, ADB is accelerating progress in gender equality and will develop a strong pipeline of projects that integrate gender equality designs into a range of operations, including transport, energy and urban infrastructure.
ADB is also supporting a transformative gender agenda such as promoting women’s land title ownership, which is a basis for women’s economic empowerment.
Thirdly, climate mitigation and adaptation efforts across the Pacific will be an important focus for ADB. Countries most vulnerable to climate change, including in the Pacific, will receive a wide range of ADB assistance.
Nakao called attention to ADB’s increase in disaster contingent financing in the Pacific, thereby allowing countries to access financial resources immediately in the wake of a disaster, based on predetermined criteria.

  •  ABD launches plan for oceans,