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Hyderabad, May 6 - The 39th annual meeting of the board of governors of the Asian Development Bank concluded here Saturday with a decision to evolve an action plan for improving governance and eradicating corruption.
Reiterating its commitment on pro-poor growth, the ADB decided to focus on its priorities set out in the medium-term strategy II (MTS-II), including catalysing investment, strengthening inclusiveness, promoting regional cooperation and integration, managing the environment and improving governance and preventing corruption.
In his concluding remarks at the last business session and later addressing a media conference, ADB President Haruhiko Kuroda said the ADB was working closely with member countries to develop a common anti-corruption framework.
'Asian and Pacific region is in a period of immense change. If economic growth remains strong and its benefits are more widely shared, we can envision the region approaching eradication of extreme poverty in the not too distant future,' he said.
'The provision of infrastructure is essential to ensure that the poor can participate in and benefit from the region's prosperity. Much more assistance is needed to meet the region's huge infrastructure demands. ADB is already scaling up infrastructure investments, particularly in the water and energy sectors,' he pointed out.
The ADB president said the private sector would have to play a crucial role in meeting Asia's huge infrastructure and other investment needs, improving productivity and reducing poverty.
He said the ADB would strengthen its efforts in regional cooperation and integration, recognising the different needs of various countries and sub-regions. 'We will remain in close consultation with other shareholders and other partners as we finalise our updated strategy,' he said.
Kuroda thanked governors and other development partners for supporting the ADB's major new initiatives, particularly the $1 billion energy efficiency initiative, the carbon fund, the innovation and efficiency initiative and post-emergency reconstruction programmes.
He said the ADB would continue to implement internal reforms, strengthen its focus on results and improve transparency and accountability.
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