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ADB to focus on environment & inclusive growth in PRC

26
Apr '08

Balanced and inclusive economic growth as well as increased protection for the environment top the list of priorities set out by the Asian Development Bank (ADB) in its new development strategy for the People's Republic of China (PRC).

ADB's 2008-2010 Country Partnership Strategy (CPS) for PRC also puts emphasis on encouraging more private-sector participation in efforts to eradicate poverty in the country and fostering regional cooperation that will allow PRC to play a more prominent role in providing assistance to other developing economies in Asia in partnership with ADB.

“Reducing poverty remains a daunting challenge in PRC. Sustaining growth will be vital for this, but that will not be possible without addressing environmental degradation, growing inequality, and the strains on resources,” said Robert Wihtol, Country Director of ADB's PRC Resident Mission.

A CPS is the primary planning instrument guiding ADB's operations in a developing member-country, as well as the monitoring and evaluation tool to track the country's performance during the course of the CPS.

The goals set out under the CPS support the PRC Government's 11th Five-Year Plan for 2006-2010 to develop national energy efficiency and environmental protection policies. The priority sectors identified under the CPS are transport and communication, energy, water supply and sanitation, agriculture and natural resources, and finance.

ADB expects to extend up to $1.5 billion in loans and as much as $20 million in grants annually to fund development assistance projects under the CPS.

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