Wednesday, April 9, 2008

New ADB Strategy 2020 launched: Focus on inclusive growth

ADB has launched a new long term strategy. Called "ADB Strategy 2020" it sets out a common strategic framework and vision for the whole organisation.

The key focus remain poverty reduction, but with a strong emphasis on three areas:
  1. Inclusive growth - Current and past economic growth has not benefited the most poverty-tricken people in the region. Strategy 2020 aims to make sure that the benefits of economic growth are felt by the poorest and most vulnerable in ADB's Developing Member Countries (DMCs).
  2. Environmentally sustainable growth - the Strategy 2020 document makes an important point:
    Only growth that is environmentally sustainable can eliminate poverty, since many of the poor depend on natural resources for their livelihoods.
    Growth therefore must be environmentally sustainable, and the Strategy emphasises the use of knowledge and technologies to improve environmental safeguards and management.
  3. Regional cooperation and integration - ADB calls this RCI, and Strategy 2020 aims to scale up RCI approaches to open up opportunities in
    ...achieving closer policy coordination and collaboration in support of regional and global public goods, including work to combat climate change and HIV/AIDS.
    It also looks to RCI to enable efficiencies and policy quality:
    Larger regional markets for goods, services, and capital will raise the efficiency of resource use and enhance the region’s global competitiveness. Closer regional coordination will elevate the overall quality of policy.
Current ADB focus in the Pacific has led to recent funding of renewable energy and energy efficiency projects.