4 May, Yokohama (Japan): Asian Development Bank (ADB) President Takehiko Nakao has said to improve the living standard of 330 million people of Asia living under the absolute poverty line is the major goal and objective of ADB.
During his talks with over 400 journalists looking after the economic beat gathered in an International Convention Venue based at Yokohama to collect news about the golden jubilee celebrations of the ADB, Mr Nakao said to build a prosperous Asia through collective efforts was the ADB goal.
Stating that Asia needs 170 billion dollar annually to develop transport, communications and energy infrastructure, the bases required for making the region economically prosperous, he said, “The ADB is committed to meeting this goal.”
Nations-to-nation partnership and cooperation along with the guarantee of sustainable development and inclusive economic growth are essential to meet the goal for prosperity, according to the ADB President.
Giving his logic that impact of urbanization had posed a challenge to clean environment, he said the green urban development was the ADB priority.
He was of the view that expansion of regional cooperation, trade diversification and integration were essential factors for the prosperity of Asia and the goal could be achieved through partnership, cooperation and coordination among the member states.
The ADB head further reiterated its commitment to be always with its member states to support in efforts aimed at fighting against climate change impact, maintaining environment balance, achieving social security and sustainable development goals.
On the occasion, he took time to share the information that the ADB was providing loan assistance up to 70 per cent to its member state in the sector of infrastructure development and the bank had sufficient capital to invest in this sector.
He commented that the One Belt: One Road (OBOR), an ambitious project forwarded by China was an effective means of developing connectivity in Eurasia therefore, the countries having less population should rethink on its feasibility.
He further said that the wind, solar, hydro and other renewable energies were the priority of the bank as it was focusing on clean energy promotion to solve the energy crisis in its member states.
To a query regarding hiking defense expenditure cutting from developmental budget by some Asian countries due to the rising tension in Korean peninsula, he thought the issue would be resolved soon contributing to establishing a peaceful and prosperous Asia.
Meanwhile, the Bank told RSS about its three projects to be effective in Nepal, namely the urban development, drinking water supply and sanitation and river improvement.
The bank is going to run a regional urban development project at a total cost of 147 million US dollar this year. Similarly, the bank will run Bagmati River Banks Reform Project at a total cost of 40 million US dollar next year.
Likewise, ADB will begin next project entitled the Second Kathmandu Valley Drinking Water Improvement Project at a total cost of 185 US dollar in 2019. RSS