ADB: 11 billion USD to help Asia fight poverty

03/05/2008 -- 10:25 PM

Hanoi (VNA) – The Asian Development Bank (ADB) has secured 11.3 billion USD of donations for the next four-year phase of its development fund to fight poverty in Asia and the Pacific region. The fund, which is over 60% higher than the previous period, will help developing Asia-Pacific countries meet Millennium Development Goal targets, and bring better opportunities and a brighter future to people living in the region’s poorest nations, ADB website on May 3 cited ADB President Haruhiko Kuroda as saying. The fund will provide support to further enhance regional cooperation and integration in Asia and the Pacific region, as well as to support the agriculture sector through the funding of irrigation systems, rural roads and rural finance mechanisms. Roads, clean water and sanitation, electricity networks and other essential infrastructure that improve the lives of the impoverished and accelerate growth will continue to be a cornerstone of the Asian Development Fund (ADF) support, the ADB said. The donations were offered just before the ADB’s 41st Annual Meeting of the Board of Governors in Madrid (Spain). The last replenishment of the ADF, which covered 2005 to 2008, totaled 7 billion USD. –Enditem
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