ADB 2030 Aim: End to Poverty in Asia and the Pacific
Strategy 2030 is the new long-term plan for the Asian Development Bank’s (ADB) strong commitment to eradicate extreme poverty in Asia and the Pacific.
The strategy to be released later this year will also expand the bank’s vision to achieve a prosperous, inclusive, resilient, and sustainable region.
This was highlighted by the ADB president Takehiko Nakao while delivering his address at the Opening Session in Manila Philippines yesterday of the Board of Governors during the 51st ADB Annual Meeting.
With the theme “Linking People and Economies for Inclusive Growth,” 4,000 delegates from member governments, academics, business leaders, and civil society representatives attended this year’s Annual Meeting.
Strategy 2030 which is in the consultation process, he said, highlighted the ADB’s achievements in 2017, its continued solid growth of Asian economies, and impacts of new technologies on jobs.
Mr Nakao also highlighted that the Strategy 2030 will address existing and emerging challenges.
“There is still persistent poverty,” said Mr Nakao. “We must address rising inequality, growing environmental pressures, and rapid urbanization. “Aging in some countries and an increasing youth population in others present opportunities as well as challenges.” Strategy 2030 will be aligned with the international agenda, including the Sustainable Development Goals and the Paris Agreement on climate change.
Strategy 2030 will have 10 priorities
(1) tackle remaining poverty and increasing inequalities in Asia and the Pacific
(2) accelerate progress in gender equality
(3) scale up support to combat climate change, build climate and disaster resilience, and enhance environmental sustainability
(4) build livable cities that are competitive, green, resilient, and inclusive
(5) promote rural development and food security (6) strengthen governance (7) foster regional cooperation and integration
(8) mobilise private sector resources to meet the region’s huge development financing needs
(9) further strengthen ADB’s role as a provider and facilitator of knowledge
(10) pursue a stronger, better, and faster ADB. “We will continue to use our financial resources efficiently and creatively,” Mr. Nakao said. “We will invest in our workforce, promote diversity including gender balance, and ensure a respectful workplace. We will expand our presence on the ground. We will dramatically modernize business processes to speed up our services to clients.
“A One ADB approach will break down silos and bring together expertise across ADB,” he added.
Mr Nakao appreciated the strong support of the Philippines as ADB’s host country since 1966 and thanked the government and its people for the excellent arrangements and warm hospitality.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members—48 from the region.
In 2017, ADB operations totaled US$32.2 billion, including US$11.9 billion in cofinancing.