ADB Meeting Kicks Off With Afghan Aid, Asian Recovery on the Table

May 9, 2002 - 0:0
SHANGHAI Bolstering Asia's economic recovery and spearheading the reconstruction of war-ravaged Afghanistan are seen topping the Asian Development Bank annual meeting which opened in Shanghai Wednesday.

In Afghanistan the ADB is leading work in four areas -- agriculture, education, transport and the environment -- and is planning to commit $200 million this year.

The ADB has pledged up to $500 million over the next two and a half years for Afghanistan, AFP reported.

Sustaining economic recovery with an assault on poverty in Asia will also be a key theme in talks, with workshops focussing on managing risk and stemming corruption.

The Manila-based ADB is forecasting that developing Asia will achieve average growth of 4.8 percent this year and 5.8 percent in 2003 after posting a 3.7 percent expansion in 2001.

Economic recovery in the United States is likely to boost Asia's climb back to financial health this year.

Accountability in the agency's programs was also expected to be discussed at the meeting.

At the last annual ADB meeting in Hawaii, Thailand and its three neighbors, Cambodia, Laos and Vietnam were urged to improve accountability and transparency on ADB-funded projects.

However, there is seen to be a split between developed and developing countries on the ADB board over how to handle the question.

Some 3,000 delegates will attend the 35th annual meeting which finishes on Sunday.