UNB, Manila :
President of the Asian Development Bank (ADB) Takehiko Nakao on Saturday renewed his appreciation of Bangladesh’s socio economic progress and its growing interest in ICT sector saying that he is impressed by the enthusiasm of girls and boys to study ICT.
“When I was in Bangladesh this February, I visited an ADB-supported ICT laboratory at a rural school. I was impressed by the enthusiasm of girls and boys to study ICT,” he said while delivering his speech at the opening session of the Board of Governors at the 51st ADB Annual Meeting here.
One girl, Nakao said, stood up and said she wanted to be a satellite engineer for the National Aeronautics and Space Administration (NASA) in the United States.
“Prime Minister Sheikh Hasina of Bangladesh was proud when I shared this story with her,” said the ADB President sharing his good memories in Bangladesh.
Finance Minister AMA Muhith and Bangladesh Ambassador in the Philippines Siam Alam were present at the crowded venue at that time when the ADB President cited Bangladesh example in a very positive way.
Bangladesh was the only country that came as example in ADB President’s speech. With the theme of “Linking People and Economies for Inclusive Growth,” this year’s Annual Meeting was attended by over 4,000 delegates from member governments, academics, business leaders, and civil society representatives. The ADB President said in countries like Bangladesh, Cambodia, the Lao People’s Democratic Republic, Myanmar, the Philippines, and Vietnam, growth continues at 7 percent or even more. “At this pace, gross domestic product (GDP) will double in about 10 years.”
Although challenges remain, he said, Asia and the Pacific is well positioned to sustain its growth momentum, supported by robust private consumption and investment, and anchored by sound macroeconomic policies and structural reforms.
The ADB President said active trade and foreign direct investment are the foundation of Asia’s economic success and are essential for continuing solid growth.
“Despite the current disputes among some countries, we firmly believe that countries should make utmost efforts to maintain and foster an open multilateral trade system,” he said.
Earlier, on May 3, the ADB President highly appreciated Bangladesh’s impressive economic growth saying success stories of Bangladesh can be good example for other Asian countries.
“I hope this kind of example can be a very good example for other Asian countries as well,” he told UNB while responding to a question at a crowded press conference at the ADB headquarters. The growth in these 10 years averaged about 6.3 percent and reached 7.3 percent in 2017.
The ADB is supporting Bangladesh in many areas, including infrastructure, water and Dhaka city projects. They are supporting education sector to bring in more scientific and ICT-related education.
ADB’s Country Partnership Strategy for Bangladesh proposes total assistance of $8 billion, including for nonsovereign operations, during the period 2016-2020, 60% up from $5 billion in 2011-2015.
In 2016-2017, the ADB approved $2.5 billion in sovereign and $600 million in non-sovereign assistance.
Bangladesh joined the ADB in 1973, and in 1982 became the first ADB member to host a field office.
To date, more than $20 billion in ADB loans, grants, and technical assistance has been approved for the country. Approved non-sovereign loans, equity investments, and guarantees have totalled $985.28 million.
The ADB President, on Saturday, also said, the Strategy 2030, the new long-term strategy of the ADB to be released this year, will renew ADB’s strong commitment to eradicate extreme poverty in Asia and the Pacific and expand the bank’s vision to achieve a prosperous, inclusive, resilient, and sustainable region.
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. He highlighted Strategy 2030 which is in the consultation process, ADB’s achievements in 2017, continued solid growth of Asian economies, and impacts of new technologies on jobs.
Nakao said Strategy 2030 will address existing and emerging challenges. “There’s still persistent poverty,” said Nakao.
“We must address rising inequality, growing environmental pressures, and rapid urbanisation. Aging in some countries and an increasing youth population in others present opportunities as well as challenges.”
The Strategy 2030 will be aligned with the international agenda, including the Sustainable Development Goals and the Paris Agreement on climate change.
The Strategy 2030 will have 10 priorities. “We’ll continue to use our financial resources efficiently and creatively,” Nakao said.
“We’ll invest in our workforce, promote diversity including gender balance, and ensure a respectful workplace. We’ll expand our presence on the ground. We’ll dramatically modernise 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.
President of the Asian Development Bank (ADB) Takehiko Nakao on Saturday renewed his appreciation of Bangladesh’s socio economic progress and its growing interest in ICT sector saying that he is impressed by the enthusiasm of girls and boys to study ICT.
“When I was in Bangladesh this February, I visited an ADB-supported ICT laboratory at a rural school. I was impressed by the enthusiasm of girls and boys to study ICT,” he said while delivering his speech at the opening session of the Board of Governors at the 51st ADB Annual Meeting here.
One girl, Nakao said, stood up and said she wanted to be a satellite engineer for the National Aeronautics and Space Administration (NASA) in the United States.
“Prime Minister Sheikh Hasina of Bangladesh was proud when I shared this story with her,” said the ADB President sharing his good memories in Bangladesh.
Finance Minister AMA Muhith and Bangladesh Ambassador in the Philippines Siam Alam were present at the crowded venue at that time when the ADB President cited Bangladesh example in a very positive way.
Bangladesh was the only country that came as example in ADB President’s speech. With the theme of “Linking People and Economies for Inclusive Growth,” this year’s Annual Meeting was attended by over 4,000 delegates from member governments, academics, business leaders, and civil society representatives. The ADB President said in countries like Bangladesh, Cambodia, the Lao People’s Democratic Republic, Myanmar, the Philippines, and Vietnam, growth continues at 7 percent or even more. “At this pace, gross domestic product (GDP) will double in about 10 years.”
Although challenges remain, he said, Asia and the Pacific is well positioned to sustain its growth momentum, supported by robust private consumption and investment, and anchored by sound macroeconomic policies and structural reforms.
The ADB President said active trade and foreign direct investment are the foundation of Asia’s economic success and are essential for continuing solid growth.
“Despite the current disputes among some countries, we firmly believe that countries should make utmost efforts to maintain and foster an open multilateral trade system,” he said.
Earlier, on May 3, the ADB President highly appreciated Bangladesh’s impressive economic growth saying success stories of Bangladesh can be good example for other Asian countries.
“I hope this kind of example can be a very good example for other Asian countries as well,” he told UNB while responding to a question at a crowded press conference at the ADB headquarters. The growth in these 10 years averaged about 6.3 percent and reached 7.3 percent in 2017.
The ADB is supporting Bangladesh in many areas, including infrastructure, water and Dhaka city projects. They are supporting education sector to bring in more scientific and ICT-related education.
ADB’s Country Partnership Strategy for Bangladesh proposes total assistance of $8 billion, including for nonsovereign operations, during the period 2016-2020, 60% up from $5 billion in 2011-2015.
In 2016-2017, the ADB approved $2.5 billion in sovereign and $600 million in non-sovereign assistance.
Bangladesh joined the ADB in 1973, and in 1982 became the first ADB member to host a field office.
To date, more than $20 billion in ADB loans, grants, and technical assistance has been approved for the country. Approved non-sovereign loans, equity investments, and guarantees have totalled $985.28 million.
The ADB President, on Saturday, also said, the Strategy 2030, the new long-term strategy of the ADB to be released this year, will renew ADB’s strong commitment to eradicate extreme poverty in Asia and the Pacific and expand the bank’s vision to achieve a prosperous, inclusive, resilient, and sustainable region.
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. He highlighted Strategy 2030 which is in the consultation process, ADB’s achievements in 2017, continued solid growth of Asian economies, and impacts of new technologies on jobs.
Nakao said Strategy 2030 will address existing and emerging challenges. “There’s still persistent poverty,” said Nakao.
“We must address rising inequality, growing environmental pressures, and rapid urbanisation. Aging in some countries and an increasing youth population in others present opportunities as well as challenges.”
The Strategy 2030 will be aligned with the international agenda, including the Sustainable Development Goals and the Paris Agreement on climate change.
The Strategy 2030 will have 10 priorities. “We’ll continue to use our financial resources efficiently and creatively,” Nakao said.
“We’ll invest in our workforce, promote diversity including gender balance, and ensure a respectful workplace. We’ll expand our presence on the ground. We’ll dramatically modernise 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.