ADB sets up new office for regional cooperation

Himalayan News Service

Manila, April 2:

The Asian Development Bank (ADB) yesterday announced the establishment of an office mandated to strengthen regional cooperation and integration, Xinhua reported.

The new office will “play an active role as catalyst, coordinator, and knowledge leader in the area of regional economic integration,” according to Haruhiko Kuroda, ADB president.

To be called the Office of Regional Economic Integration (OREI), the institution will be headed by Masahiro Kawai, professor of economics at Tokyo University. He will serve as economic advisor to Kuroda and will take office from October 2005.

Kuroda has also appointed Rajat M Nag, the director general of ADB’s Mekong Department, to concurrently hold charge as special advisor on regional economic cooperation and integration.

The new office will replace ADB’s Regional Economic Monitoring Unit (REMU) and will also handle publication of the Asia Economic Monitor and Asia Bond Monitor as well as management of the Asia Regional Information Centre.