Interviews
ADB to focus on environment & inclusive growth in PRC
26 Apr '08
3 min read
To achieve inclusive and balanced economic growth, the CPS will focus on poorer provinces and promote integrated rural and urban development. The CPS will also promote efficient infrastructure and energy use and strengthen environmental management.
PRC will tap ADB's regional cooperation programs to facilitate trade and investment and pursue regional public health and financial stability under the CPS. The country will also promote public-private partnerships in infrastructure finance and help strengthen the development of the financial sector.
Since efforts to reform and open the economy started in 1978, PRC has achieved rapid economic expansion. The country has recorded an average annual gross domestic product growth rate of over 9% during the past three decades.
Despite its economic successes, PRC remains a lower-middle-income country with a sizable number of poor living on less than $1 a day. Millions more have low incomes or are living just above the poverty line. Coastal regions have grown faster, and inequality between urban and rural areas has increased.
The CPS will build on ADB's successful lending and technical assistance programs in PRC during the past 20 years. ADB recognizes the country's rapidly changing needs and its ability to contribute expertise and systems to ADB-financed projects.
ADB has been supporting socioeconomic development in PRC since 1986, providing around $18 billion for public- and private-sector projects and extending technical assistance totaling $290 million.
The preceding Country Strategy and Program focused on pro-poor growth by improving the access of the poor to economic benefits. Through the program, ADB funded 24 public-sector projects totaling $4.26 billion, extended $49.67 million in technical assistance, and provided $395.7 million in private-sector project assistance.
PRC will tap ADB's regional cooperation programs to facilitate trade and investment and pursue regional public health and financial stability under the CPS. The country will also promote public-private partnerships in infrastructure finance and help strengthen the development of the financial sector.
Since efforts to reform and open the economy started in 1978, PRC has achieved rapid economic expansion. The country has recorded an average annual gross domestic product growth rate of over 9% during the past three decades.
Despite its economic successes, PRC remains a lower-middle-income country with a sizable number of poor living on less than $1 a day. Millions more have low incomes or are living just above the poverty line. Coastal regions have grown faster, and inequality between urban and rural areas has increased.
The CPS will build on ADB's successful lending and technical assistance programs in PRC during the past 20 years. ADB recognizes the country's rapidly changing needs and its ability to contribute expertise and systems to ADB-financed projects.
ADB has been supporting socioeconomic development in PRC since 1986, providing around $18 billion for public- and private-sector projects and extending technical assistance totaling $290 million.
The preceding Country Strategy and Program focused on pro-poor growth by improving the access of the poor to economic benefits. Through the program, ADB funded 24 public-sector projects totaling $4.26 billion, extended $49.67 million in technical assistance, and provided $395.7 million in private-sector project assistance.
Asian Development Bank
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