However, large numbers of poor people and growing inequality make evident that not all are benefiting from strong economic growth, the ADB 2005 Annual Report said. "Many countries are unlikely to reach the non-income Millennium Development Goals by 2015. Clearly, poverty reduction remains the region's key challenge," the recently published report noted.

    The region is still home to two thirds of the world's poor. Those living on less than 2 U.S. dollars a day still number about 1.9 billion, or nearly a third of the world's population.

    ADB has committed that reducing poverty in the region will continue to be the guiding priority of the bank's mission in the years ahead. And it also depends on the actions of the developing countries themselves, as well as those of all development partners to change the backward situation.

    ADB sees regional cooperation and integration as a powerful tool that can complement national-level efforts aimed at poverty reduction and shaping a better future.

    The ADB annual meeting provides the opportunity for the financial officials and exports to work out strategies, guide the actions of programs and make priorities toward the goals of the region's development.

    Backgrounder: Asian Development Bank

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