2 Feb 2005

New ADB president calls on bank to reinvigorate itself

8:22 pm on 2 February 2005

The new president of the Asian Development Bank, Haruhiko Kuroda has called on the institution to re-invigorate itself to meet the challenges of operating in the world's most dynamic region.

Haruhiko Kuroda says the Asia and Pacific Region has tremendous potential to rapidly attain sustainable economic development and poverty reduction in the coming years.

Mr. Kuroda began his job as the ADB's 8th president by outlining the vision of a bank that works in close consultation with the nations of Asia to provide effective development assistance.

He said as the Asia and Pacific Region is experiencing dynamic and rapid change, ADB - as the "Family Doctor" - should always respond to the region's needs in a flexible and timely manner.

Mr. Kuroda was unanimously elected ADB President by its Board of Governors in November 2004.

For the region as a whole, the new President singled out poverty as the primary challenge.

He says the Asia and Pacific region is diverse, and so progress has also been diverse.

Mr Kuroda says the bank needs to be more client-oriented and it should deal better with member governments and stream-line its procedures.