MANILA, Feb. 19 (Xinhua) -- The Asian Development Bank (ADB) opened on Monday in Manila a regional knowledge center focused on public finance, said an ADB official.

    "This newly opened center aims to be at the forefront of knowledge on the subjects of public finance, fiscal policy, privatization, and regional economic cooperation," said Bindu N. Lohani, director general and chief compliance officer of the ADB's Regional and Sustainable Development Department.

    Activities planned for this year include a study on improving internal business processes to strengthen governance in the public sector, an assessment of policies on local government finance and its impact on the readiness of local governments to access the capital markets.

    A public financial management conference will also be hosted by the center, and a website will be launched in 2008 to help disseminate its work.

    The new center is one of five ADB regional knowledge hubs. The others include one focused on clean energy in India, one on climate change in China, one on reducing pollution and reusing and recycling materials in Thailand, and one on private-public partnerships on infrastructure in Singapore.

    Robert F. De Ocampo, former Philippine secretary of finance, will serve as chairman of the Board of Advisers for the new center.