In this issue, read about ADB's response to the soaring food crisis, the generous contributions to the Asian Development Fund from ADB's donors, ADB's report on its 2007 operations, and other news from the 41st Annual Meeting of ADB's Board of Governors in Madrid. Also featured are major new publications and the latest on ADB events, opportunities, and operations.
ADB President Haruhiko Kuroda announced $500 million in immediate budgetary support to tackle rising food costs in Asia-Pacific region and pledged to double lending to $2 billion for agriculture in 2009.
ADB has secured $11.3 billion for the next four-year phase of its concessional development fund to fight poverty in the Asia and Pacific region - a significant jump of over 60% from the previous period.
ADB approved $10.1 billion in loans in 2007, a 37% increase over the previous year, in response to demands for development assistance, according to ADB's 2007 Annual Report.
ADB has outlined the nature of the food price crisis, its underlying causes, expected impacts and possible responses in a paper titled Soaring Food Prices: Some Possible Responses .
With demand for energy in Asia soaring, governments urgently need to create the right environment to attract investments in clean energy, ADB President Haruhiko Kuroda said at a climate change seminar in Madrid.
ADB is establishing a new fund to slow the onset of climate change and to help the Asia-Pacific region adapt to the expected devastating impact of global warming.
ADB has decided to take some additional steps in the update of its environmental and social safeguard policies after having concluded this week a series of 13 consultation workshops across the Asia-Pacific region, North America, and Europe.
Many countries in the Asia-Pacific region may not meet all of the Millennium Development Goals due to gaps in several key areas, according to a joint report by the United Nations and ADB.
Asian nations must boost economic ties through closer consultation and policy coordination, and improve financial market surveillance to foster financial stability and economic prosperity, says Emerging Asian Regionalism.
Development Asia*, a new magazine launched by ADB, will help raise awareness and understanding of development issues and challenges concerning the Asia and Pacific region.
The most immediate and visible fallout from the global credit market turmoil has been an increase in volatility in emerging East Asian bond markets, says the April issue of Asia Bond Monitor.
Asia’s development goals are ambitious, and ADB will respond with more change, strong commitment, and greater focus, said ADB President Haruhiko Kuroda at the Opening Session of the 41st Annual Meeting of ADB's Board of Governors in Madrid, Spain on 5 May 2008.
Improving Resettled Lives
A multibillion-dollar, government-financed hydropower project will help Viet Nam meet its increasing demand for energy, but it will displace more than 20,206 families—mostly ethnic minorities. Read how an ADB project is helping improve the living conditions of resettled families.
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May 2008
