Koizumi adviser new ADB president

Wed, 02 Feb 2005 | Source: DPA

MANILA: A former adviser to Japanese Prime Minister Junichiro Koizumi took over on Tuesday as president of the Asian Development Bank (ADB), stressing the need for the institution to reinvigorate itself amid new challenges in the region.

Haruhiko Kuroda, 60, was unanimously elected as the new chief of the Manila-based ADB in November 2004, following the resignation of his predecessor, Tadao Chino.

He vowed to pursue the aggressive reform agenda initiated by Chino to make the ADB "a more effective development organization".

He added that the ADB needed to become more "client-oriented", deal better with member governments and streamline its procedures for loans and grants. -- DPA

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