ADB to promote development cooperation, innovation across borders

Participants at the 46th Annual Meeting of the Asian Development Bank Board of Governors saw on Friday the institution’s aim to foster more development cooperation and innovation across borders.

Here are some highlights of the second day of the event in New Delhi:

• ADB and the International Enterprise Singapore signed a letter of commitment to launch a public-private partnership initiative to stimulate infrastructure development within ASEAN countries, with a proposed funding of $9 million over three years.

• New ADB President Takehiko Nakao gave this statement at the annual ADB governors’ seminar: “Huge investments must be made in education and skills training that are appropriate for the needs of the future. For any of this evolution to proceed, the right infrastructure must be in place.”

• Key officials from ADB and the governments of Indonesia, Australia, East Timor led the “Global Partnership for addressing development challenges in Asia and the Pacific” panel, that emphasized development cooperation as an opportunity to fill the existing development financing gap.

• The ADB’s Results Management Unit made a presentation on the bank’s performance in 2012 and the major findings of the 2012 Development Effectiveness Review Report, ADB’s sixth annual corporate performance review.

• The bank teamed up with technology firm Hewlett-Packard to hold a forum on “Collaborative Innovation,” tackling information and communication technologies as a potential driver of development in the region.

• Oxfam spearheaded a forum on “Food for All – What will it take? An Exploration of the Contribution of Small-holder Farmers to Food Security and ADB’s Role.”

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