By Makereta Komai, PACNEWS Editor in Milan, Italy
Australia has reminded the Asian Development Bank (ADB) if it wants to maintain its position as the multilateral partner of choice for the region, it must modernise its processes and practices, alongside moving staff closer to clients to remain relevant and effective.
Rachel Thompson, Australia’s temporary governor while addressing the ADB’s high level Governor’s Session in Milan Monday made a special plea for Pacific Developing Member Countries (PDMCs) – calling on ADB to live up to its Charter’s promise of special consideration for the bank’s smallest and most vulnerable members.
“A differentiated approach to the bank’s support for Pacific members is central to the purposes for which ADB was established, said Thompson.
“We encourage ADB members and Management to pay careful attention to the statement to be delivered on behalf of Pacific Governors during this Business Session. It is the voice of Pacific members that should guide the new Pacific Approach and ADB’s deployment of concessional resources to promote private-sector led growth and greater resilience to a changing climate.
As the Pacific’s largest bilateral development partner, Australia wants to see ADB focus on the support needed to ensure projects are consistent with the Pacific Quality Infrastructure Principles.
“We also expect to see ongoing efforts to further embed value-for-money principles in infrastructure related procurement. Contractors should face the consequences and bear the costs of poor performance. And there needs to be a stronger emphasis on the benefit to local communities during construction and more sustainable approaches to operations and maintenance.
Thompson cautioned the ADB not to be complicit in allowing a cycle of ‘build, deteriorate and rebuild’ to be perpetuated.
Australia recognised ADB for its continued support to the Pacific to address correspondent banking and financial intermediation issues – a good example of how the bank is helping to build integration and resilience into these economies.
Thompson congratulated President Masato Kanda on his assumption of office as the bank’s 11th President.
Australia plays a significant role in the ADB, both as a founding member and a major contributor. Australia is actively involved in shaping ADB policies and directions through its substantial funding and co-financing activities, particularly within the Asian Development Fund (ADF) and the Technical Assistance Special Fund (TASF).
