ADB meeting calls cooperation, concrete measures to meet poverty reduction goals

Delegates at ADB's 39th Annual Meeting of Board of Governors have reached a common view that regional cooperation and concrete measures are needed to meet the goals of poverty reduction in Asia and Pacific.

They said remarkable progress has been made in economic growth in most of the countries in the region in recent years, gaining an overall increase of 7.4 percent in 2005. That has contributed a lot to the reduction of poverty.

But not all people are benefiting from strong economic growth. Many countries are unlikely to reach the eight Millennium Development Goals by 2015 -- eradicate extreme poverty and hunger, achieve universal primary education, reduce child mortality, improve maternal health, combat HIV/AIDS, malaria and other diseases, ensure environmental sustainability, and develop a Global Partnership for Development.

Clearly poverty reduction remains the region's key challenge as some 620 million people are still surviving on 1 U.S. dollar or less a day and about 1.9 billion living on less than 2 U.S. dollars a day in Asia and Pacific.

Economic growth and balanced development in the whole region is the key to changing the backward situation. But some problems cannot be solved individually.

ADB president Haruhiko Kuroda said at Friday's opening of the meeting that to tackle the challenges, the region needs more investment in infrastructure, deeper regional cooperation and integration, private sector participation and improved governance.

Indian Prime Minister Manmoham Singh said, "In a globalized world, growth and progress cannot occur in isolation. Countries and international agencies must collaborate to produce welfare- enhancing synergies."

His views was shared by Chinese Finance Minister Jin Renqing who said "regional cooperation is full of potential and ADB can continue to play a role as a facilitator and financier."

ADB, as the region's financial institution aiming to support the development with poverty reduction as its core mission, has the responsibility and capability to play its role in the region's cooperation.

In 2005, it has provided financial assistance to the urgent needed countries, including the support to the countries suffering from the Indian Ocean tsunami and South Asia earthquake as well as avian flu.

Anyhow, the delegates at the meeting called for more concrete measures to facilitate the region's cooperation and programs on poverty reduction.

ADB Governor from Indonesia Mulyani Indrawati said more efforts should be done to enhance regional connectivity while Karin Kortmann from Germany said more targeted measures are needed with a clear poverty focus. ADB should regard itself as an advocate and catalyst of pro-poor growth and social inclusion.

While others called for more ADB support to infrastructure development in transport, agriculture and water resources as it is the foundation of the sustainable economic growth and poverty reduction in developing member counties.

Based on the opinions from its members, ADB is expected to approve a number of new strategies including the medium-term strategy (MTS) at the meeting to improve its performance.

Adrian Schlaepfer from Switzerland said Friday that ADB should in its medium-term strategy (MTS) elaborate in more detail how it intends to assist governments of the region to make economic growth more beneficial to the poor and how income disparities can be reduced.

Source: Xinhua