The Asian Development Bank (ADB) is reviewing the implementation
of its private sector development strategy in an effort to increase
operational effectiveness to meet its goal of an Asia and Pacific
region free from poverty.
The review will assess how effectively the development strategy is
being operationalized in individual developing member countries and
assess related ADB internal operations, the ADB said Monday in a
statement.
Likewise, the review will consider the relevance of the strategy in
the dynamic context of global and regional development, the
statement said.
During the review exercise, the ADB will seek comments from
internal and external stakeholders on the preliminary findings of
the review and to solicit comment on the priority actions that the
ADB would need to take to strengthen private sector development
effectiveness, it added.
A wide range of global experience is expected to contribute to the
review, including that of other international development agencies.
In-country missions are designated for Azerbaijan, Mongolia,
Pakistan, Philippines, and Vietnam.
Much has changed externally and within the ADB since the strategy
was endorsed in March 2000. Increased globalization and
decentralization, the war on terror, and advances in technology
continue to alter the competitive landscape for private firms and
individuals.
In 2002, the ADB went through a major reorganization and a new
president will assume office as current ADB President Tadao Chino
is scheduled to resign on Jan. 31, 2005.
"We realize that we must adjust to global and local dynamics and
examine what we have done well and where we can improve," says
Graham Settle, ADB senior governance specialist and head of the
review team.
External consultations have begun and the review report will be
completed in mid 2005.
(Xinhua News Agency September 14, 2004)