Global Banking Directory 2.0
Press Release Distribution Service
Add Bank | Banking Forum Online
BankDEP Crypto Bank
BanksDaily on Twitter BanksDaily on LinkedIn BanksDaily on Instagram

Press Release :: Asian Development Bank

Logo Asian Development BankThe Asian Development Bank (ADB) was on track in its performance in 2009 to deliver output targets in the core sectors of infrastructure, education and finance in the region.

The Development Effectiveness Review 2009 shows that reform measures introduced by ADB in recent years are yielding results. ADB is becoming more efficient in processing loans and grants and in disbursing funds to its public sector clients. ADB's key stakeholders in its member countries also have positive perceptions about ADB's efforts to help reduce poverty among the people in the region, says the report.

At the same time, the report highlights that more progress is required in areas such as cofinancing, support for education, and success rates of completed projects, along with more efforts to raise the staffing level and budget resources within ADB to better support its expanding operations.

“We are pleased that the review overall shows we are continuing to deliver substantial benefits to the region. It also underscores the need for us to give more attention to areas such as project quality and more timely use of resources for this purpose,” said Haruhiko Kuroda, President of ADB.

In response to the findings, ADB is already taking a number of remedial measures, with specific time-frames. Among others, ADB's Work Program and Budget Framework for 2010-2012 has been drawn up, which provides for a phased increase in budget funds and staff numbers. ADB has also introduced a pilot scheme to increase cofinancing, education assistance, and projects promoting gender mainstreaming.

“After three years of implementation, the review process is now solidly integrated into ADB’s corporate management process. We will continue to use the latest findings, as we have done before, as an internally-driven strategy to deliver strong benefits to our developing member countries,” said Rajat M. Nag, Managing Director General of ADB.

An annual self-assessment tool by ADB management, this report is the third to be released by ADB since 2008. ADB remains the only multilateral development bank to publish such a comprehensive results-based report by management, delivering added-value to clients and providing greater accountability to stakeholders.

The Development Effectiveness Review uses a scorecard system to enable ADB to pinpoint where it has been successful, where challenges remain, and where remedial action is required.

Source: Asian Development Bank
Date: 26.04.2010
Get your content published on BanksDAILY.com in just a few clicks.
Financial and Banking News
 Post-Pandemic Economic Recovery: Key Factors Driving Growth and Stability

The COVID-19 pandemic caused a global economic halt, resulting in disruption, job losses, and uncertainty. However, as vaccination efforts progress and countries adjust to the new normal, there is hope for an economic recovery.

 Wiki Finance Expo Sydney 2023 Is Coming Soon!

Regulation, Forex, Crypto, Web 3.0, Metaverse, AI, ESG Will Be in Focus. Taking place on November 16th, Wiki Finance Expo, Sydney 2023 is Aussie largest and most anticipated fintech event of the year. 30.10.2023 | Source: WikiExpo

 Blockchain Economy Dubai Summit 2023: Just Two Weeks Away and Buzzing with Anticipation

Dubai, UAE - The Blockchain Economy Dubai Summit is generating palpable excitement within the blockchain and crypto communities, with only two weeks remaining until the event. Scheduled for October 4-5, 2023, at the Le Meridien Dubai Hotel & Conference Center, this prestigious event gathers over 3,000 blockchain entrepreneurs, crypto enthusiasts, and industry leaders from 85 countries. 20.09.2023 | Source: Teklip

 📰 News Archive

2007-2024 © BanksDAILY.com | All Banks in One Place | Privacy Policy