Friday, June 16, 2006

ADB Announces Medium-Term Strategy

Source: ADB News Release

The ADB announced another step in advancing its Long-Term Strategic Framework. This medium-term strategy, covering 2006-2008, has the goal of “strengthening the poverty-reducing impact of its assistance.”

The ADB has chosen to break up the 15-year period of its Long-Term Strategic Framework, into smaller medium-term strategies in order to address adequately the quickly changing needs of the region. ADB President Haruhiko Kuroda said, "[the new strategy] will strengthen the impact of our assistance on poverty reduction, and better support the efforts of developing member countries to attain the Millennium Development Goals."

The strategy aims to increase income and reduce poverty by stressing advancement of the investment climate. It notes that maximizing the poverty-reducing impact of growth depends on social and rural infrastructure development.

Other aims of the strategy include dealing with the environment, strengthening governance, and dealing with corruption.

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