To achieve sustainable and inclusive growth, Asia-Pacific has to be “more innovative, more inclusive and more integrated,” according to Asian Development Bank President Takehiko Nakao.
Nakao underscored those three “I’s” during his closing remarks at the 46th ADB annual meeting on Sunday in New Delhi. The next annual meeting will take place in Astana, Kazakhstan.
To reach this vision, he named finance, knowledge, strategy, resources and development effectiveness as the five areas where the ADB can add value.
Nakao wrapped up the event with six pledges. Here’s what to expect as the ADB embarks upon this vision under its new president:
The bank will maintain its focus on infrastructure and will “actively explore” cofinancing initiatives with bilateral and private sector sources.
The bank will look closer into inclusion, empowerment and gender equality in its operations.
The bank will emphasize the issues of environment, climate change and green growth, particularly for small island economies.
The bank will heighten its support for regional integration.
Since ADB is “facing a resource challenge,” the bank will consider all options to ensure that its lending level remains sufficient.
The bank will bolster internal reforms to raise efficiency and development effectiveness, particularly through improvements in project performance and outcomes.
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