Monday, 24th November 2014

ADB's new strategic priority on socio-economic dev in Nepal


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The Asian Development Bank (ADB) has emphasized on economic growth, environmentally sustainable growth and regional integration through its Mid Term Review (MTR) Strategy 2020 for socio-economic development of Nepal.

ADB's Country Director for Nepal Kenichi Yokoyama informed this at a sharing of the key findings of the MTR with media persons in Kathmandu on Thursday.

Making public its strategic priorities and six year MTR Strategy-2020 implemented since this year, ADB Country Director Kenichi Yokoyama said that MTR has included infrastructure, environment, regional cooperation and integration, financial sector development and education sector in the strategy.

Reasserting ADB's high priority in health, agriculture, disaster management and emergency assistance, he further said cooperation in private sector development, good governance, capacity development, gender equality, knowledge and skills are also equally emphasized in the strategy.

The ADB has also suggested the government to be sensitive on high and sustainable growth, social inclusion, creation of employment opportunities, institutional capacity development, risk management, agriculture sector transformation, regulatory policy and institutional reform.

The MTR Strategy 2020 is the culmination of a year-long process that was announced at the Annual Meeting of the Board of Governors of the ADB in May 2013.

ADB has undertaken the MTR to prepare itself to meet the challenges of transforming Asia and the Pacific.

In its assessment of the emerging development challenges for Asia and the Pacific, the MTR notes that the region is likely to eradicate absolute poverty by the mid-2020s--as defined by the number of people living on less than $1.25 a day.  This region remains home to the majority of the global poor people.

This region is also facing wide inequalities in income and access to economic and social opportunities.