Banks asked to help E. Timor

Banks asked to help E. Timor

BRISBANE, Australia (AFP): Australian Foreign Minister
Alexander Downer on Wednesday called on Asian banks to help
rebuild East Timor.

Downer told the first Asian Development Bank (ADB) meeting to
be held in Australia more needed to be done to combat poverty in
the Asia-Pacific region.

He said despite signs of recovery in crisis-affected Asian
economies, poverty persisted, with around 42 million living below
the poverty line in Indonesia alone.

The needs of emerging nations provided additional challenges,
he said. "The new nation of East Timor, for example, has major
development needs," Downer said.

The ADB meeting, to discuss the replenishing in early 2001 of
the bank's US$6.26 billion to fund poorer nations, is being held
over two days here.