Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 247 Thu. February 03, 2005  
   
Business


New president wants more flexible ADB


Haruhiko Kuroda took office as the new president of the Asian Development Bank (ADB) Tuesday, calling for a more flexible and efficien institution to enhance economic growth and poverty reduction in the region.

The Oxford-educated Kuroda -- a former Japanese vice finance minister, an adviser to Prime Minister Junichiro Koizumi and a professor at Hitotsubashi University -- replaced Tadao Chino as the head of the Manila-based ADB.

"As the Asia and Pacific region is experiencing dynamic and rapid change, ADB -- as the 'family doctor' -- should respond to the region's needs in a flexible and timely manner," Kuroda said in a speech.

"ADB needs to place even greater emphasis on analysing specific issues and challenges at the country level through policy dialogue and other knowledge exchanges, and identify priority areas for assistance."

The ADB, owned by 63 member states, has always had Japanese presidents since it was set up in 1966 with the aim of cutting poverty by providing loans, grants and technical assistance. Japan and the United States are the largest shareholders.

Critics have accused the bank of being bureaucratic and slow to respond to the needs of Asian countries.

Kuroda promised to carry on reforms begun under Chino, saying the ADB must be more client-oriented, improve efficiency, strengthen coordination with the World Bank and United Nations agencies, and bolster its financial risk management system.

He noted poverty in the region had dropped to 22 percent of its population in 2002 from 34 percent in 1990 but that much of the improvement was concentrated in India and China.

"Sustainable poverty reduction requires that long-standing gender issues and the special needs of children receive the attention and support they deserve," he said.