28 Aug 2018

Array of donors in region an opportunity, not a threat, says ADB

3:52 pm on 28 August 2018

The Asia Development Bank says it's not overly concerned about the effects of an unstable global order, an array of new donors, and sky-high debts in some Pacific countries.

In fact, the bank's vice-president said the variety of interests and money provided a host of opportunities for the region.

And in the face of the rise of China and other donors, Stephen Groff said the bank, which mostly funds large infrastructure projects, was looking to change its ways to better compete.

Frank Bainimarama meeting with the Asian Development Bank Vice President Stephen Groff

The ADB's Stephen Groff, (right), meets Fiji Prime Minister Frank Bainimarama Photo: Supplied

But Mr Groff said the bank won't be looking to replicate other countries' 'few strings attached' approach.

"We're sticking to our process," he said.

"I mean, we're looking for ways to find efficiency, we're looking for ways of trying to speed up the way that we conduct our business, but at the same time we think that the safeguards that we bring with respect to environment, with respect to social, with respect to financial safeguards and procurement are critically important for the long term success and sustainability of any investment that we make."