UNITED NATIONS - / MaximsNews Network / 14 April 2008 -- The Asian Development Bank has launched a new long-term strategy to address poverty eradication in the Asia and Pacific region - Strategy 2020.

Strategy 2020 will seek to refocus the operations of the ADB to more effectively fight poverty and better address three development agendas – inclusive economic growth, environmentally sustainable growth, and regional integration. 

Essentially, Strategy 2020 acknowledges that poverty reductions can really only be achieved and sustained if more people are economically productive. 

And economic growth can only take place within a well-managed natural environment where neighboring economies agree to work within larger and free markets to achieve shared interests through cooperation.

As outlined by Strategy 2020, 80% of the ADB’s lending will now be focused on five core operational areas by the year 2012. The areas that have been identified are – infrastructure, environment, regional cooperation and integration, finance sector development, and education.

By the year 2020, approximately 50% of the Bank’s operations will focus on private sector development and private sector operations while 30% will focus on regional cooperation and integration. 

The ADB will also continue to operate on a more selective basis in health, agriculture, and disaster and emergency assistance.

Strategy 2020 identifies several drivers of change that will be stressed in its future operations—developing the private sector, encouraging good governance, supporting gender equity, and helping developing countries gain knowledge.

Strategy 2020 emphasizes ADB’s commitment to partner with other development institutions, the private sector, and community-based organizations.

As noted by the ADB president, Haruhiko Kuroda, Strategy 2020 will “reshape, redirect and reposition the Bank” to serve a “more innovative and effective development role in a rapidly changing region and within the international aid architecture”.

The Strategy 2020 vision will function as the ADB’s main strategic guiding document over the next twelve years (2008-2020). It will effectively replace the earlier issued document, released in 2000, that referenced the ADB’s long-term strategic framework 2001-2015.

Labels: United Nations, U.N., Asian Development Bank, ADB, Strategy 2020, international news, international development, private sector, Kathy Shandling

 

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