ADB President backs sustainable growth policy

13 Oct '07

3 min read

ADB remains committed to working with India in efforts to eradicate poverty, with infrastructure development remaining as the core focus in key areas of transport, energy and urban sectors, as well as in the government's priority sectors like agriculture and water resources.

“While the increasing strength and maturity of India's economy is indeed commendable, ADB agrees with the Government's assessment that more needs to be done to make the growth process more inclusive,” said Mr. Kuroda.

ADB's key strategy for India is to help reduce poverty through infrastructure-led growth. However, growth alone is not enough; it has to be supplemented by specific measures to address equity, he added.

ADB will increase the focus of assistance on broad-based economic growth in rural areas through investments in agriculture, irrigation, rural roads, and rural finance which directly benefit the poor, 75% of whom live in rural areas.

During his visit, Mr. Kuroda will also tour ADB projects in Tamilnadu that are working to rehabilitate and generate incomes for the poor and vulnerable devastated by the deadly 2004 tsunami, which claimed nearly 11,000 lives.

Damage assessments have shown that the overall rehabilitation and reconstruction needs in the four mainland tsunami-affected states and territories of India total $1.2 billion. ADB is providing assistance to help these regions through a $200 million recovery program.

Asian Development Bank

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