(MENAFN- AzerNews) Turkiye encourages the Asian Development Bank (ADB) toprioritize development outcomes while maintaining lending volumes,Deputy Minister of Treasury and Finance of Turkiye Osman Celik saidduring the annual meeting of the ADB in Tbilisi, Azernews reports.
"We fully support the steps taken toward removing the ADBCharter lending limitation and encourage further innovativefinancial instruments in line with the G-20 recommendations. Weencourage the bank to prioritize development outcomes whilemaintaining lending volumes and incorporate a private sectorperspective across its portfolio when deploying freed-up capitalpromptly.
Fourth, we praise the successful replenishment of the AsianDevelopment Fund as a testament to the bank's commitment tosustainable development and poverty reduction in the region's mostvulnerable nations. This initiative not only enhances our capacityto address current and future challenges but also underscores thebank's effective stewardship in directing aid where it is mostneeded.
Lastly, we commend the bank's efforts to engage more effectivelywith the private sector. We also suggest bold steps towardsdecentralization and the establishment of regional hubs as outlinedin the New Operating Model. These hubs would enhance thein-the-field experience and know-how, enabling the bank to deliverfaster and more tailored support to its DMCs. While the NewOperating Model has facilitated key organizational changes,implementing the decentralization component will further positionthe bank to be more responsive and effective.
In concluding, I would like to emphasize Turkiye's appreciationfor the tremendous effort put forth by ADB's Management and staff,committed to the prosperity of the Asia and Pacific region.
As always, Turkiye looks forward to continuing our strongcooperation with ADB, supporting its endeavors to fostersustainable development across our region," he said.
The theme for the 57th Annual Meeting to be held from May 2through May 5 is“Bridge to the Future.”
The Annual Meeting is an opportunity for ADB governors toconsider development issues and challenges facing Asia and thePacific. Several thousand participants, including financeministers, central bank governors, senior government officials,members of the private sector, representatives of internationalorganizations and civil society organizations, youth, academia, andthe media, regularly join the meeting.
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