Himalayan News Service

Kathmandu, June 15:

Asian Development Bank (ADB) has launched an action plan for major reforms to make institution a more ‘effective, dynamic and results-driven catalyst for poverty reduction and prosperity’ in Asia and the Pacific region. The bank launched the action plan at a special assembly yesterday at its headquarters in Manila, says a bank’s statement. Tadao Chino said that reforms, to be carried out in consultation with employees, will improve the quality of assistance provided to ADB’s developing member countries (DMCs).

He appealed to ADB personnel to nurture and institutionalise a results-focused orientation in which everyone and the organisation itself is held accountable. “By doing so, we will be a more effective development partner as we strive to reduce poverty and achieve the Millennium Development Goals over the next decade,” he said. Under an overall theme of ‘Development Effectiveness: Achieving Results Together’, the reforms will address four major challenges. These challenges include managing development results, improving results on the ground, improving openness, accountability, and responsiveness and enhancing organisational capability.