MADRID, May 4 (Xinhua) -- A senior Chinese official
on Sunday called on the Asian Development Bank (ADB) to give high priority to
its developing members and let their voice be better heard.
"The ADB should actively consider reforming its
internal governance structure, so that developing members can play a more
important role in the decision making," Li Yong, vice finance minister of China,
told a seminar on the sidelines of an annual meeting of the ADB, which began
here Saturday.
Li Yong said developing members should be heard more
in designing strategy and policy of the ADB since they are the targets the bank
serves.
Established in 1966, the ADB is an international
development finance institution in the Asia-Pacific region whose mission is to
help its developing members to reduce poverty and improve life quality of their
people, mainly through grants or low-interest lending to support development
projects.
It now has 67 members, including some developed
countries like the United States, Japan and the host Spain.
After over 40 years in action, the bank is currently
formulating a new long-term strategic framework to guide itself during the
period till 2020.
Li said the new strategy of the ADB should conform
with development trends in the Asia-Pacific region and meet diversified needs of
its developing members.
"The ADB needs to create new comparative advantage to
the changing requirements of developing members while building stronger
operations of traditional advantages, such as infrastructure, agriculture and
also regional cooperation," he said.
Li's remarks were made one day before the ADB's
highest policy-making body, the Board of Governors, which comprises one
representative from each of its 67 members, meets on the future of the
institution, providing guidance on the ADB administrative, financial and
operational directions.
In addition to internal reforms, Li said the ADB
should externally strengthen strategic cooperation with other development
institutions and mobilize more private capital for investment through public and
private partnership.
Addressing the same seminar, ADB president Haruhiko
Kuroda said the ADB would continue its fight against poverty in the following
years through three critical strategic agendas, namely inclusive economic
growth, environmentally sustainable growth and regional integration.
"The ADB will be an engine and partner for change by
emphasizing private sector development, good governance, gender equity,
knowledge solutions and partnerships," he said.
Kuroda said the ADB would focus on five areas,
including infrastructure, environment, regional cooperation and integration,
financial sector development and education.
This year's ADB annual meeting was opened amid rising
food prices, which the bank had warned could undermine its efforts to fight
against poverty.
Japanese Finance Minister Fukushiro Nukaga said
poverty reduction remains the biggest challenge to the ADB and the bank should
play a central role in this.
"Those hardest hit are the poorest segments of the
population, especially the urban poor," Nukaga said, "It will have a negative
impact on their living standards and their nutrition, a situation that may lead
to social unrest and distrust."
Over a billion people in the Asia-Pacific region are
seriously impacted by the food price surge as food expenditure accounts for 60
percent of total expenditure basket. Food and energy together account for more
than 75 percent of total spending of the poor in the region.
Surging food prices topped the agenda of the ADB
annual meeting this year. The bank announced on Saturday it would provide
immediate budgetary support to some Asia-Pacific countries hit hardest by rising
food prices.