PUBLIC RELATIONS & PRESS RELEASE

B. Vision Statement by Takehiko Nakao (March 7, 2013)

Upon my nomination as a candidate for the presidency of the Asian Development Bank (ADB), I would like to present my vision of how I lead the ADB if I am elected.

Asia has achieved remarkable growth and poverty reduction in recent years and is now regarded as an engine of global growth. Still, there remain developmental challenges. In the Asia-Pacific region, more than 800 million people live in absolute poverty. Middle income countries need to climb up the economic ladder by overcoming the middle income trap. We also need to tackle such challenges as climate change, food security, fragile states, gender equality, and regional integration.

I believe the ADB's "Strategy 2020" will remain a crucial guide for the mission of the institution. Core operational areas for the ADB, namely, i) infrastructure, ii) environment, iii) regional cooperation and integration, iv) financial sector development, and v) education, are crucial for reducing poverty, as well as sustaining growth. These areas are interconnected. Without good transportation infrastructure, access to education will be limited and chances of getting good jobs will be constrained.

The importance of enhancing private sector development, which is the source of growth, goes without saying. In this regard, the ADB should enhance operations for the private sector development. Public-private partnerships should be promoted through helping countries provide appropriate institutional settings. I would like to highlight the importance of improving the investment climate. The ADB, together with other international partners, can encourage countries to continue to pursue sound macroeconomic policies, make progress in needed structural reforms and improve governance. An open, sound, and vibrant financial sector is indispensable to supporting small- and medium-sized companies, as well as to encouraging foreign direct investment, which brings with it technology and know-how.

In order to accomplish its mission, the ADB should be strong, both in terms of its human capacity and financial resources. I will unleash all the potential of its staff, the ADB's most important asset, by making the best use of skilled and diverse talents. The ADB should further enhance its ability to provide knowledge solutions to members. Capacity building remains indispensable, not only for low income countries that prepare the basis for robust growth, but also for middle income countries that aspire to join advanced economies. I will ensure that the ADB be backed by sufficient financial resources to support the needs of member countries.

Finally, I will further strengthen the ADB's partnership with all its development partners, including member governments, multilateral organizations and civil society. Development should, by nature, be country-driven. At the same time, aid coordination should be further promoted to make the support from the international community still more effective.