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New ADB President to Host High-Level Meeting on Tsunami Assistance

MANILA, PHILIPPINES (8 February 2005) - The Asian Development Bank (ADB) will host a high-level meeting in March to coordinate assistance to tsunami affected countries, ADB President, Haruhiko Kuroda, announced today.

Addressing a news conference one week into his presidency, Mr. Kuroda said the tsunami response is entering a critical phase and is shifting from the relief phase to the rehabilitation and reconstruction phase.

"It is critical that the international community maintain the significant momentum of the relief effort as longer-term work on restoring livelihoods, rehabilitating communities, restoring social services, and rebuilding infrastructure moves into high gear," he said.

"Coordination among the many governments and bilateral and multilateral donors involved in the rebuilding process will be a crucial component of success. With this in mind, I have taken the initiative to host a "High-Level Coordination Meeting on Assistance to Tsunami Affected Countries" here at ADB Headquarters on March 18."

So far, ADB has identified $600 million in readily available funds and another $175 million in reprogrammed funding for the tsunami effort in Indonesia, Maldives, Sri Lanka and India.

"I am determined to ensure that the Asian Development Bank, as Asia's development partner, will meet the central needs of the affected countries," he said.

He said the meeting would take stock of recovery achievements and pledges of support, and seek to reach a common understanding of the major considerations in delivering effective rehabilitation and reconstruction programs over the next four to five years.

"The meeting will help to ensure that the world's attention remains focused on tsunami support and that donor support for, and confidence in, the affected countries remains high," Mr. Kuroda added.

Ministers from the affected countries, donor countries, and senior representatives from the United Nations, the World Bank and other multilateral organizations have been invited to attend.

"The magnitude of the tsunami disaster demands that the rebuilding process is rapid, efficient and meets the critical needs of affected communities," he said. "ADB is committed to ensuring that affected areas get the funds and the assistance they need as quickly as possible."

Speaking also about the broader work of ADB, Mr. Kuroda said that in response to the changing needs of the Asia and Pacific region, ADB would strengthen its contribution to stability and growth.

"My hope-and my belief-is that the Asia and Pacific region is entering a new era of development," Mr. Kuroda said.

"My determination is that ADB will continue to help our developing member countries strengthen their economies, create new opportunities for their people, and broadly improve standards of living for the people of Asia and the Pacific."

Mr. Kuroda pointed out that parts of the region remain desperately poor, with about 700 million people in the region still surviving on less than one dollar per day.

"This reality presents this institution and each of its members with a huge responsibility: We must strengthen the effectiveness of development aid, and we must create new, sustainable economic opportunities for the people of this region," he said.

"This is a responsibility I take very seriously, and one to which I will dedicate all my energy in the years ahead."

He added that ADB will assume a more proactive role as catalyst and as a coordinator for regional cooperation and integration.

"Closer integration is an area of critical importance to the competitiveness of Asian economies in today's global market," he said.

He added that the institution would strengthen its role as a knowledge organization and boost its research function to ensure it provides the critical thinking and data its members need to make wise policy decisions and create practical development plans that can be effectively implemented.

Mr. Kuroda took office on 1 February, having been unanimously elected ADB President by its Board of Governors in November 2004.

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