Asian recovery, Afghan reconstruction to dominate ADB talks<\/p>\n
Agence France-Presse
\nManila<\/p>\n
Sustaining economic recovery with an assault on poverty in
\nAsia and rebuilding war-ravaged Afghanistan are the main issues
\nat an upcoming Asian Development Bank's meeting, the bank's chief
\nsaid.<\/p>\n
Some 3,000 delegates will attend the 35th annual meeting of
\nADB's board of governors in Shanghai from May 10 to 12.<\/p>\n
ADB President Tadao Chino said the meeting among 60 member
\ncountries would help track the region's economic outlook which
\ncould be clouded by oil price increases following the Middle East
\nconflict.<\/p>\n
\"A major challenge now is to bring back Asian economies on a
\nsteady and sustainable growth path\" after a four-year turmoil
\nfollowing the Asian financial crisis in 1997, Chino told AFP in
\nan interview ahead of the meeting.<\/p>\n
The Manila-based ADB is forecasting that developing Asia would
\nachieve an average growth of 4.8 percent in 2002 and 5.8 percent
\nin 2003 after posting 3.7 percent in 2001, he said.<\/p>\n
Chino said gradual recovery in global trade and moderate
\nimprovement in capital flows to Asia and strong domestic demand
\nin many developing nations would support the region's economies.<\/p>\n
He said the strengthening of the U.S. economy should brighten
\nthe outlook for other economies worldwide, including the Euro
\narea and Japan, he said.<\/p>\n
\"However there are concerns,\" he warned. \"One concern for
\ndeveloping Asia is the oil price (and its associated effects).
\nThe destructive events in the Middle East could cause oil markets
\nto send the price higher.\"<\/p>\n
The ADB annual talks would also seek feedback on the bank's
\npoverty-busting strategy, in line with a United Nations goal to
\nhalve poverty by 2015 as part of so-called millennium development
\ngoals (MDG).<\/p>\n
\"We recognise the MDG of halving poverty by 2015 is ambitious
\nbut we are confident it can be achieved in many Asian countries,\"
\nChino said.<\/p>\n
Some 900 million people in Asia are living in poverty and they
\nmake up 70 percent of the world's poor.<\/p>\n
Another key topic in the Shanghai talks is ADB's participation
\nin Afghanistan's reconstruction and recovery following the U.S.-
\nled war against terror there.<\/p>\n
The ADB is leading work in four areas -- agriculture,
\neducation, transport and the environment in Afghanistan.<\/p>\n
\"For our part, ADB is preparing an initial country strategy
\nand program for the next three years and we tentatively have
\nidentified a program of about US$200 million in assistance for
\n2002 with similar levels of assistance for 2003 and 2004,\" Chino
\nsaid.<\/p>\n
The ADB had pledged up to $500 million over the next two and a
\nhalf years for Afghanistan.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/asian-recovery-afghan-reconstruction-to-dominate-adb-talks-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}