Poverty Reduction in the New Asia and Pacific: Key Challenges of Inclusive Growth for the Asian Development Bank: Technical Note
Walton, Michael | November 2007
Abstract
The international Forum on 'Inclusive Growth and Poverty Reduction in the New Asia and Pacific' was held in Manila on 8-9 October 2007. The forum's overall conclusion was that there is a pressing need for transformation within the Asian Development Bank (ADB) and better alignment of inclusive growth as strategic goal with the operational activities and internal capabilities so that the institution can continue to play an important role in supporting Asia's socioeconomic development. The conference is of strategic importance for ADB's new longterm strategic framework discussions.
This paper summarizes the strategic discussion as highlighted in the keynote address by Michael Walton. It argues that growth needs to be inclusive to be sustainable and to be accepted by the population. The Asia and Pacific region, with its rising inequalities, has somewhat lost the inclusive growth path of its past. This gives new opportunities for ADB as the regional development bank to bundle knowledge and finance in areas where both the governments and markets fail. In poorer countries, this will often involve continued support to central governments in the provision of infrastructure and social services. In emerging market countries, this will increasingly involve a mix of financial and knowledge-related services that tackle the more complex challenges of inclusion of lagging regions or groups in both social and economic development, developing comprehensive mechanisms for managing security, financial inclusion, and the management of environmental concerns. However, to remain relevant for the region, ADB urgently needs to transform itself quickly to better align the strategic development goal of poverty reduction through making growth inclusive with its internal capacities.
Citation
Walton, Michael. 2007. Poverty Reduction in the New Asia and Pacific: Key Challenges of Inclusive Growth for the Asian Development Bank: Technical Note. © Asian Development Bank. http://hdl.handle.net/11540/736. License: CC BY 3.0 IGO.Print ISBN
978-971-561-647-8
Keywords
Asian Development Bank
Development
Sustainable Development
Urban Area
Urban Areas
Urban Population
Urbanization
Urban Services
Urban Projects
Urban Problems
Urban Poverty
Urban Policy
Urban Planning
Urban Infrastructure
Urban Health
Urban Government
Urban Economic Development
Urban Development Finance
Urban Development
Urban Conditions
Urban Communities
Urban Population
Economic development
Cities
Sustainable growth
Economic development
Urban Plans
Urbanism
Urban agriculture
Rural Urban Migration
Cities
Investment
Sustainable development
Local government
Urban renewal
Urban housing
Urban sociology
Transit systems
Rapid transit
Public transit
Mass transit
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Citable URI
http://hdl.handle.net/11540/736Metadata
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