The goal of comprehensive, sustainable and environmentally friendly growth in Asia was an important message delivered at the 44 th annual meeting of the Asian Development Bank (ADB), that closed in Hanoi on May 6.

 

To advance to the goal, the Board of Governors successfully revealed its agenda, including setting directions for ADB, with a number of significant initiatives for cooperation and development, and promoting relations between ADB and member countries, development partners and other related partners, ADB President Haruhiko Kuroda said at the closing press conference.

 

The meeting agreed that as a dynamic economic area with high growth and strong recovery in the post-crisis period, Asia should further affirm its role in the settlement of issues arising in the process of global economic development, especially in reform of the world monetary system, contributing to sustainable stability and balance of the financial system.

 

The governors also discussed and put forward measures concerning current challenges in the region and the world such as high inflation, climate change, food security, and the middle-income trap.

 

The Board of Governors expressed its wish that as a multilateral financial institution for poverty reduction in Asia-Pacific, ADB would give higher priority for assistance to member countries in developing infrastructure, dealing with growth “bottlenecks”, mitigating the impacts of climate change, promoting the private sector, support transition of growth models, and restructuring economies.

 

Looking towards sustainable and environmentally friendly growth, ADB approved the green energy initiative and will spend 2 billion USD in support of projects relating to green and renewable energy.

 

At the press conference, President Kuroda highly appreciated the careful preparation and successful organisation of the events by host country, Vietnam .

 

The ADB’s 44 th annual meeting drew about 4,000 delegates, including prime ministers, deputy prime ministers, ministers of economy and finance, governors of central banks, high-level officials of international economic and financial institutions, representatives from non-governmental organisations and media, which President Kuroda described as strong interest in the ADB meeting as well as Vietnam – a dynamic, hospitable country.

 

The next ADB meeting will be held in Manila , the Philippines , in 2012./.

 

 (VNA)