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50th ADB Board of Governors meeting begins in Japan

50th ADB Board of Governors meeting begins in Japan

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4 May 2017 - 09:26
50th ADB Board of Governors meeting begins in Japan
author avatar
4 May 2017 - 09:26

 KABUL (Pajhwok): The Asian Development Bank’s (ADB) Board of Governors 50th annual meeting kicked off on Thursday in Yokohama, Japan, according to a statement.

Finance and development ministers, central bank governors, other senior government officials, business executives, journalists, academics, and representatives from civil society, development organizations, and youth from the Asia and Pacific region have arrived at Pacifico Yokohama in Yokohama.

Over 5,000 delegates, including from North America and Europe, are expected to attend the meeting from 4 to 7 May.

Operating under the theme of “Building Together the Prosperity of Asia”, this year’s Annual Meeting would focus on the region’s growing need for infrastructure as a critical sector towards achieving sustainable and inclusive development. Discussions on how to address urban challenges and strive for clean and climate-resilient development will be held.

The flagship Governors’ Seminar on 5 May would discuss reforms in trade, investment, and finance, as well as lessons learned from the past 50 years of development in the region. A special book launch, as part of ADB’s 50th anniversary celebrations, will be held on 4 May to discuss and share ADB’s role and future direction.

Key sessions would discuss salient issues central to development including rising inequality, macroeconomic stability, progress on the Sustainable Development Goals, and financial inclusion. The Annual Meeting would highlight the role of the private sector in supporting development programs in Asia and the Pacific through seminars focused on public-private partnerships and financing.

Host country, Japan, will hold several events including discussions on lessons from the Asian financial crisis 20 years later, and a youth event focused on reducing poverty and fostering inclusive economic growth.

The Central and West Asia Department Director General highlighted in a media briefing  on  ten Asian country especially on five central Asian countries on some things common interest and landlord countries link Afghanistan and urban development and four countries signed the contract of big project of Tope around 600 million dollar which it will not be only energy transaction which local communities get jobs ,electricity and roads based on our experience everyone want that.

On partnership affairs the Asian Development Bank (ADB) and the ASEAN+3 Macroeconomic Research Office (AMRO) today signed a memorandum of understanding (MOU) to strengthen cooperation between the two institutions in support of members in the Association of Southeast Asian Nations (ASEAN), the People’s Republic of China, the Republic of Korea, and Japan.

The MOU was signed by ADB President Takehiko Nakao and AMRO Director Junhong Chang on the sidelines of the 50th Annual Meeting of ADB’s Board of Governors in Yokohama, Japan.

Through the partnership, ADB and AMRO will collaborate to support efforts and policies focused on economic growth, greater financial stability, and improved cooperation and integration in the ASEAN+3 regions. The MOU will help enhance the two institutions’ support to further strengthen the region’s macroeconomic surveillance, as well as its crisis prevention and management capabilities.

“Asia and the Pacific has made tremendous progress in improving its financial resilience and strengthening its surveillance capabilities. AMRO has been an essential part of this development,” said Mr. Nakao. “Through this MOU, ADB and AMRO will work closely together on issues that are essential to the region’s future growth and financial stability.”

Since its inception in 2011, AMRO has sustained a strong partnership with ADB, including activities such as the annual Asian Regional Roundtable, a host of meetings and dialogues at both leadership and working staff levels, as well as ADB’s technical assistance to strengthen AMRO’s surveillance capacity. The MOU is a milestone in enhancing and institutionalizing the cooperation between the two organizations following AMRO’s new status as an international organization.

“The MOU marks an important step forward in our ongoing collaboration with ADB, an important partner in the region,” said Ms. Chang. “AMRO looks forward to working even more closely with ADB to support regional financial stability and economic cooperation.”

AMRO, located in Singapore, is a regional surveillance organization that aims at contributing to the regional macroeconomic and financial stability through conducting macroeconomic surveillance and supporting the implementation of the regional financial arrangement. AMRO members include 10 ASEAN economies and the People’s Republic of China (including Hong Kong), Japan, and the Republic of Korea

 

The Asian Development Bank (ADB), through the Asia-Pacific Project Preparation Facility (AP3F), is providing technical assistance to help improve and modernize solid waste management in Cebu City in the Philippines under public-private partnership (PPP) modality.

This opportunity was introduced to ADB by City of Yokohama through the Yokohama Partnership of Resources and Technologies (Y-PORT).   

ADB’s assistance to Cebu City will fund a pre-feasibility study involving review of economic, legal, technical, social, and environmental aspects. The study will help city authorities prepare a strong project concept, with the private sector expected to design, build, and finance, operate, and maintain the project. “PPPs will play a critical role for urban areas in Asia and the Pacific to improve infrastructure delivery and quality of life for residents,” said RyuichiKaga, Head of ADB’s Office of Public-Private Partnership.

ADB and City of Yokohama are also collaborating on a solid waste management project in Da Nang, Viet Nam, and plan to work together on similar urban projects in the Asia and Pacific region.

The assistance comes under AP3F, a multi-donor trust fund managed by ADB to help developing Asia and the Pacific prepare, structure, and place bankable PPP projects in the market. AP3F was announced in May 2015 with approximately $73 million in initial funding, including $40 million from the Government of Japan, CA$20 million from Canada, and AU$10 million from Australia. ADB has also contributed $10 million to the fund.

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