The days, when the 43rd Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) was held in Tashkent, have produced constructive and forward looking debate on a wide variety of issues that currently affect the Asia and Pacific region, ADB President Haruhiko Kuroda said in his closing statement on 4 May.
    "With Asia emerging from the crisis, now is the time for critical decisions that will ensure its long-term economic and social progress. Inclusive growth, environmentally sustainable growth, and regional integration are keys to this future," he noted.
    Briefly highlighting this annual meeting, the ADB head said: "With Asia leading the world in recovery from the crisis, we have discussed how the region can position itself in a much changed global economy for sustainable development."
    Governors recognized the quick responses by Asian leaders to the financial and economic crisis, as well as the effectiveness of the assistance extended by ADB and other development partners. However the economic recovery in some countries remains fragile.
    "We must continue supporting these countries and carry on building systems to prevent future crises and mitigate its impacts, as we return to normal operations," Mr Kuroda noted.
    "There is general agreement that Asia needs to move toward more balanced growth by shifting to domestic and regional demand. This will increase further the region's resilience and contribute to an eventual unwinding of global imbalances," the ADB President added.
    While recognizing the region's continued economic resilience, Governors clearly see the need for Asia to make growth more inclusive to offer benefits and opportunities to the poor and disadvantaged.
    "Asia needs to focus its efforts to achieve the millennium development goals. ADB appreciates the support of Governors for our investments in infrastructure, education, microfinance and other areas that are critical to inclusive growth," he noted.
    Climate change is the most serious environmental and development challenge of this century, and the Asia and Pacific region has a major role to play. But the support of all stakeholders is vital to address climate change and promote environmentally sustainable growth in the region.
    "I thank Governors for your support of ADB's climate change initiatives, including the new Asia Solar Energy Initiative. Vulnerable countries in Asia need to be supported in adapting to climate change impacts and dealing with natural disasters. Environmental sustainability needs to be considered in all investment projects and programs," Haruhiko Kuroda said.
    This Annual Meeting provided an opportunity to examine how accelerating Asian regional integration could contribute to global growth. Governors' active support for the efforts of developing Asia toward deeper integration will help pave the way to a global economy that is both more dynamic and more stable in the long term.
    "To this end, developing regional trade and investment through improved connectivity is key. This is as important for land-locked Central Asian states as it is for the island countries of the Pacific. ADB will continue to actively support regional cooperation and integration and to work closely with regional institutions," he noted.
    In the last two years, ADB's Strategy 2020 has been tested by global events such as the food and fuel crisis and the global financial crisis immediately thereafter. These events have confirmed the importance of the strategy's three principal thrusts: inclusive growth, environmentally sustainable growth, and regional integration.
    At the same time, the flexibility of Strategy 2020, along with increased ADF and OCR resources, has allowed ADB to respond quickly and effectively to our member countries hit by these crises.
    "ADB has made steady progress in improving its development effectiveness. We will continue to strengthen our private sector operations and focus on results. The Development Effectiveness Review, which annually monitors our results, has become an important tool for the management of our institution," the ADB head said.
    "We appreciate Governors' acknowledgement of our efforts and continued support, and look forward to the ADF midterm review in November as another opportunity to review our progress," he added.
    As several Governors have noted, the reforms undertaken in the areas of human resources, risk management, auditing and integrity, and business processes have laid the foundation for a more effective Bank.
    "This year we are reviewing our Public Communications Policy and the Accountability mechanism. We are aware much remains to be done to fully implement Our People Strategy, promote gender equality in our operations and within the Bank, and make optimal use of our resident missions," Mr Kuroda emphasized.
    "As we close this 43rd Annual Meeting, let us once again take the opportunity to reaffirm our collective commitment to the people of Asia and the Pacific – and to our vision of a region free of poverty," he said.
    Mr Kuroda expressed his sincere gratitude to the President of Uzbekistan Islam Karimov and to the Chair, Governor Rustam Azimov, for the excellent arrangements. "And I especially want to thank the people of Tashkent, who, through their gracious and delightful hospitality made this 43rd Annual Meeting of the ADB a most memorable occasion," he added.