ADB is helping developing countries shift to low-carbon growth and protect those most vulnerable against the expected impacts of climate change. ADB’s long-term strategic framework for 2008-2020 (Strategy 2020) makes tackling climate change part of our core operations. ADB is supporting a comprehensive program of assistance to developing member countries for climate change mitigation and adaptation measures, and mainstreaming of climate change considerations into ADB operations. http://www.adb.org/Documents/Brochures/InFocus/climate-change.asp
Filed under: Development, adb, Asia, climate
ADB has begun implementing sweeping new changes to the way it does business to improve the quality and responsiveness of its work. Starting this January, business processes are being streamlined to make them more efficient, to lower transaction costs, and to enable ADB to respond swiftly to client needs. The improvements will help ADB realize the development goals laid out under its long term strategic framework, Strategy 2020, in order to achieve its overarching vision of a region free of poverty.
Filed under: Development, adb, Asia, business, consulting, Development, finance
The global economic crisis should be viewed by Asia’s policymakers as an opportunity to expand investment in ”desperately” needed public goods, economist Jeffrey Sachs told an ADB audience.
In a lecture titled ”Achieving Global Cooperation on Economic Recovery and Long-Term Sustainable Development”, Prof. Sachs said that with the drop in external demand for Asian exports, the region will ”have to rely on public spending,” such as infrastructure, health, education and energy reforms.
”Asia needs all of that desperately,” Prof. Sachs said. ”This is still the region of the world with the fastest urbanization, with the most dramatic need for pollution control, for cleaning up the energy sector, for cleaning up the rivers, for sustainable urban development, for accommodating the migration of hundreds of millions of people from rural areas to urban areas. I like to view this crisis as an opportunity for Asia given the chronic underinvestment in public goods. Public spending has a very high social return and also has a very high macroeconomic purpose right now.”
Filed under: Asia, Crisis, Asia, Crisis, Research
The Asian Development Bank’s Board of Directors today approved a series of measures to further enhance the independence and overall effectiveness of ADB’s operations evaluation function.
”These initiatives will further enhance the independence and effectiveness of ADB’s evaluation function and will place it at the forefront of international evaluation practice,” said Executive Director, Mr Phil Bowen, chair of the Working Group which also comprised fellow Executive Directors, Mr Howard Brown and Mr. Wencai Zhang, and ADB Managing Director General, Mr Rajat M. Nag.
The measures include extending the term of the Director General of the Operations Evaluation Department (OED) to five years from three years on a non-renewable basis; and the position to be appointed by ADB’s Board, upon the recommendation of the Development Effectiveness Committee of the Board, in consultation with the ADB President.
The Director General’s performance will be subject to annual review by the Chair of the Development Effectiveness Committee, and the budget of the OED will be approved by ADB’s Board separately from the Bank’s administrative budget. OED would be renamed the Independent Evaluation Department to reflect its enhanced independent status.
Although ADB has a clearly articulated model of independent evaluation that emphasizes organizational and behavioral independence, protection from influence, and the avoidance of conflicts of interest, OED’s credibility as an independent evaluation unit could be further enhanced by the measures, the report said.
Filed under: Banking, Development, Asia, Evaluation, M&E
ADB has establishing a new fund to slow the onset of climate change and to help the Asia-Pacific region adapt to the expected devastating impact of global warming. ADB will provide an initial $40 million to the Climate Change Fund, which will be open for further contributions from countries, other development organizations, foundations, the private sector and other sources.
”The purpose of the fund is to facilitate greater investments in developing countries in Asia and the Pacific to address the causes and consequences of global warming. Money from the fund will be used to provide grant financing for technical assistance, investment projects, research and other activities, and we welcome interested parties to participate in the fund,” said Mr. Werner Liepach, Principal Director of ADB’s Office of Cofinancing Operations.
Filed under: Development, Economy, Publications, Asia
ADB’s flagship annual publication, Asian Development Outlook 2008 (ADO) shows that favorable policy conditions and impressive productivity growth associated with Asia’s economic modernization and structural transformation will continue to keep the region on a strong growth path. ADO warns that the risk of an inflation spiral in Asia is palpable and urges policymakers to keep a close watch on it. Inflation is expected to rise to 5.1% in 2008 and gradually slide to 4.6% in 2009.
A special theme chapter on ”Workers in Asia” highlights the importance of providing relevant skills and job opportunities for Asia’s burgeoning labor force. Developing Asian countries may fail to reap the ”demographic dividend” if they do not invest in their education and training systems to make them more relevant to the demands of their rapidly modernizing economies, the Asian Development Bank says in the ADO.
Filed under: Development, Asia