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HIGHLIGHTS
HIGHLIGHTS
Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO) © 2018 Asian Development Bank 6 ADB Avenue, Mandaluyong City, 1550 Metro Manila, Philippines Tel +63 2 632 4444; Fax +63 2 636 2444 www.adb.org Some rights reserved. Published in 2018. Publication Stock No. ARM189389-2 The views expressed in this publication are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. By making any designation of or reference to a particular territory or geographic area, or by using the term “country” in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area. This work is available under the Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO) https://creativecommons.org/licenses/by/3.0/igo/. By using the content of this publication, you agree to be bound by the terms of this license. For attribution, translations, adaptations, and permissions, please read the provisions and terms of use at https://www.adb.org/terms-use#openaccess. This CC license does not apply to non-ADB copyright materials in this publication. If the material is attributed to another source, please contact the copyright owner or publisher of that source for permission to reproduce it. ADB cannot be held liable for any claims that arise as a result of your use of the material. Notes: In this publication, “$” refers to US dollars. Corrigenda to ADB publications may be found at http://www.adb.org/publications/corrigenda. ADB recognizes “China” as the People’s Republic of China, and “Korea” as the Republic of Korea. Photo credits: ASEAN+3 Macroeconomic Research Office, 47 and 49; International Labour Organization, 45 and 49; Global Green Growth Institute, 50. All other photos are by ADB. Cover photos, clockwise from top: Delegates at the Business Session; ADB President Takehiko Nakao and Christopher Morris, head of ADB’s NGO Center, at the CSOs and ADB Management Meeting; President Nakao greets Philippine President Rodrigo Duterte, with Philippine Finance Secretary Carlos G. Dominguez looking on; the Governors’ Seminar at the ADB Annual Meeting; Mr. Dominguez at the Opening Session of the Annual Meeting.
Contents Annual Meeting by the Numbers 6 Manila 2018: Sustainability in Action 6 Letter from the Secretary 7 ADB Seminars and Institutional Events 9 Economic, finance, and development issues of current interest to ADB stakeholders Sponsored Seminars 5 The role of private sector in the development of Asia and the Pacific Host Country Event 31 Organized by our host, the Government of the Philippines Civil Society Program 35 Civil society organizations come together for dialogue, knowledge sharing, and networking Special Features 45 CNBC Debate and side events organized by partner organizations
Annual Meeting by the Numbers
16
ADB Annual Meetings
held in Manila, the record
for any city
CO2 100%
carbon neutral event
countries
attendees represented 4,627
Annual Meeting post
retweets and likes
almost
ADB members from
2M
Delegates 17% users reached
Asia and the Pacific 48
Civil society 11%
1,296
Nonregional
Media 8%
ADB members 19
Accompanying persons 8% Nonmembers new LinkedIn followers
Observers 7% 13
ADB personnel 12%
Host country secretariat 3%
1,100
users interacted virtually
Guests 30% at seminars using the
Others 4% Pigeonhole Live Q&A
platform
Manila 2018: Sustainability in Action
SINCE AUGUST 2015, the ADB Annual Meeting has been ISO certified (ISO 20121) as a sustainable event. For Manila 2018,
the organizers used green energy for the main venue, printed only on recycled paper, printed badges on demand to reduce
waste, and enlisted local suppliers who used local produce. To reduce greenhouse gas emissions, vehicles of heads of delega-
tions were not more than 3 years old. Tarpaulins were also upcycled into reusable shopping bags.
CLEAN ENERGY TECHNICAL TOUR. GO LOKAL BOOTH. The pop-up WILDLIFE CONSERVATION. The
ADB Governors and heads of delega- store at the ADB headquarters was a delegation welcome kit included a
tions from Asia, Europe, and the Pacific collaboration between the Philippines’ Philippine eagle plush toy. Proceeds of
visited a wind farm in Pililla, Rizal. The Department of Trade and Industry and the sale will go directly to the Philippine
Pililla Rizal Wind Farm generates 54 Department of Finance to showcase Eagle Foundation’s conservation pro-
megawatts of renewable energy year- artisan goods made from Philippine gram to support awareness efforts in
ly for the province of Rizal and Metro produce. protecting this critically endangered
Manila, powering approximately 66,000 raptor. The Philippine eagle is endemic
households. to the Philippines and only about 600
are estimated as surviving in the wild.
6 HIGHLIGHTS OF THE 2018 ADB ANNUAL MEETING IN MANILA, PHILIPPINES
Letter from the Secretary
MANILA 2018 marked an important milestone for ADB.
Last year, we celebrated our 50th anniversary and reflected on where we have
been, what we have achieved, and where we are going.
This year’s Annual Meeting—we pivoted to the future.
Exciting things are happening in our region. We have seen Asia and the
Pacific’s significant rise and it is on a growth trajectory. The world’s economic cen-
ter of gravity has shifted to Asia, thus becoming the key engine of growth for the
world economy. Vis-a-vis this, we see a dynamic and increasingly complex devel-
opment landscape emerging—climate change and environmental pressures, aging
populations, urbanization and infrastructure gaps, poverty and inequality continue
to persist, advances in technology and artificial intelligence offering opportunities
and challenges on the jobs front.
In our 51st Annual Meeting—we thus forged a vision and strategy for the fu-
ture of our region. Together with various stakeholders—governments, civil society,
NGOs, the media and youth, we shared and discussed our program of action—
Strategy 2030—ADB’s response in helping our region adapt, thrive, and succeed.
We listened to our stakeholders and have taken their ideas and recommendations
in mind. In the coming months, we will finalize our strategy.
We are hopeful and positive. Rest assured, ADB will continue to play a critical
role in the years ahead. We envision a future that is free of poverty, a region that is
prosperous, with growth that is sustainable, resilient, and inclusive. We resolve to
do our best and nothing less.
As we move forward, the peoples and children of our region will always serve
as our guide and inspiration. Visit the 2018 Annual Meeting website to
access the Summary of Proceedings, news
Mabuhay! articles, event photos, videos, and more:
www.adb.org/annual-meeting/2018
If you are interested in learning more
about a particular seminar, send a
Woochong Um message to amseminars@adb.org. The
The Secretary names of the seminar organizers are
Asian Development Bank listed for each event.
A Showcase of
ADB’s Legacy
The ADB History Gallery houses a col-
lection of the bank’s memorabilia and ex-
hibits highlighting important milestones
in its history.
ADB President Nakao accompanied
Philippine Finance Secretary and Chair
of the Board of Governors Carlos
Dominguez in his visit to the gallery
during the 51st Annual Meeting.
LINKING PEOPLE AND ECONOMIES FOR INCLUSIVE DEVELOPMENT 7
ADB Seminars and
Institutional Events
Economic, finance, and development issues of current interest to ADB stakeholders
Governors’ Seminar:
Technological Change, Globalization, and Jobs in Asia»10
Tapping Technology to Maximize Longevity Dividend in Asia»12
ADB’s Performance in Transition to Strategy 2030:
The 2017 Development Effectiveness Review»13
Private Sector Participation in Asian Infrastructure Development»14
ADB Insights: Promoting Inclusive Growth
through Inter-subregional Cooperation»15
ADB Insights: The Future of Energy Systems»16
ADB Insights: Adapting to an Aging Asia—
Building Opportunities to Support the Longevity Revolution»17
ADB Insights: The Future of Skills and Jobs»18
Breaking Barriers: Women Entrepreneurs in Asia and the Pacific»19
New Technologies in Finance:
Opportunities and Challenges for Asia»20
Unleashing Asia’s Capital in the Age of Choice»21
Transparency and Stakeholders’ Engagement
in Compliance Review»22
Rule of Law for Inclusive and Sustainable Development:
ADB’s Law and Policy Reform Program at Work»23
Strengthening Climate and Disaster Resilience:
Investing in Community-led Solutions»24
LINKING PEOPLE AND ECONOMIES FOR INCLUSIVE DEVELOPMENT 9
ADB SEMINARS AND INSTITUTIONAL EVENTS
Governors’ Seminar:
Technological Change, Globalization, and Jobs in Asia
4 MAY 2018, 1:30–3:00 P.M. • SEMINAR COORDINATORS: JUZHONG ZHUANG AND RANA HASAN
Panelists
Taro Aso, Governor for Japan, ADB; and Deputy Prime Minister, Minister of Finance, and Minister of State for Financial Services in
Japan
Carlos G. Dominguez, Chair of the Board of Governors and Governor for the Philippines, ADB; and Secretary of Finance, Philippines
Sri Mulyani Indrawati, Governor for Indonesia, ADB; and Minister of Finance, Indonesia
Takehiko Nakao, President and Chairperson of the Board of Directors, ADB
Aiyaz Sayed-Khaiyum, Governor for Fiji, ADB; and Attorney-General and Minister for Economy, Public Enterprises, Civil Service,
and Communications, Fiji
Moderator
Zeinab Badawi, International Broadcaster and Chair of the Royal African Society
NEW TECHNOLOGIES have been At the Governors’ Seminar: and Fiji Attorney-General and Minister
a key driver of economic growth and Technological Change, Globalization, for Economy, Public Enterprises, Civil
the creation of more productive and and Jobs in Asia during ADB’s 51st Service, and Communications Mr.
better paying jobs. However, there is Annual Meeting, these questions were Aiyaz Sayed-Khaiyum.
growing concern that recent advances discussed by ADB President Takehiko President Nakao pointed out a
in fields such as robotics and artificial Nakao and other panelists includ- number of reasons—with which the
intelligence could lead to widespread ing Philippines Finance Secretary Mr. other panelists concurred—why the
job losses. How real are such concerns? Carlos G. Dominguez, Indonesia net effect of new technologies on jobs
What is the experience of different Finance Minister Ms. Sri Mulyani would be positive. They also agreed
countries? What can governments do Indrawati, Japan Deputy Prime Minister, that there would be disruptions from
to ensure that new technologies bene- Finance Minister, and Minister of State new technologies for some workers,
fit all workers, not just the highly skilled? for Financial Services Mr. Taro Aso, especially those engaged in manual and
10 HIGHLIGHTS OF THE 2018 ADB ANNUAL MEETING IN MANILA, PHILIPPINESADB SEMINARS AND INSTITUTIONAL EVENTS
President Nakao emphasized the importance of using new technologies in ADB’s
own work and making ADB a forum for sharing knowledge on how to make new
technologies benefit society at large.
routine tasks, and that governments on digital technologies to reduce infor- Minister Aso stressed that invest-
should respond to ensure that the ben- mation and transaction costs for farm- ments in quality infrastructure were in-
efits of new technologies reach all. ers, informal sector workers, and small dispensable for providing the economic
Secretary Dominguez noted that and medium-sized enterprises—these backbone that will enable the region’s
there were some downside effects from also promote financial inclusion. firms and workers to utilize and benefit
new technologies, such as the risk of Minister Khaiyum focused on the from new technologies.
growing inequality. But, such risk could various ways new technologies support In his closing remarks, Mr. Nakao
be mitigated through appropriate poli- inclusive development. These include emphasized the importance of using
cies in areas such as education, training, advancements that let fishermen get new technologies in ADB’s own work
and social protection. better prices for their catch, or help the and making ADB a forum for sharing
Minister Indrawati emphasized government improve tax administration knowledge on how to make new tech-
that innovative companies are seizing or respond to climate challenges. nologies benefit society at large. ½
Sri Mulyani Indrawati Taro Aso Carlos G. Dominguez Aiyaz Sayed-Khaiyum Takehiko Nakao Zeinab Badawi
LINKING PEOPLE AND ECONOMIES FOR INCLUSIVE DEVELOPMENT 11ADB SEMINARS AND INSTITUTIONAL EVENTS
Tapping Technology to Maximize Longevity Dividend in Asia
3 MAY 2018, 8:30–10:00 A.M. • SEMINAR COORDINATOR: CYN-YOUNG PARK
Panelists
Bambang Brodjonegoro, Alternate Governor for Indonesia, ADB; and Minister of National Development Planning, Indonesia
Norma Mansor, Director, Social Security Research Centre and Professor, Department of Administrative Studies and Politics, Faculty
of Economics and Administration, University of Malaya
Yumiko Murakami, Head, OECD Tokyo Centre
Koichi Narasaki, Group Chief Digital Officer, Sompo Holdings, Japan
Moderator
Stephen P. Groff, Vice-President for Operations 2, ADB
Bambang Brodjonegoro Norma Mansor Yumiko Murakami Koichi Narasaki Stephen P. Groff
ASIA IS AGING at unprecedented experiences tell us that firms wouldn’t
speed. While many parts of develop- Potential gains from hire elderly workers unless they are
ing Asia still enjoy demographic div- technology can only be properly trained and adaptable to
idend, many economies face the risk new technologies,” added Ms. Yumiko
of growing old before it becomes rich. harvested by conscious Murakami.
The panel of experts discussed the role efforts and policy actions. Panelists also stressed the im-
of technology in sustaining productiv- portance of instituting flexible labor
ity and economic growth in the region policies and adequate social security
amid rapid aging. Brodjonegoro, also ADB alternate and welfare to ensure such technology
The panelists shared that technol- governor, said, “While Indonesia is ex- potential is realized and the gains are
ogy holds great potential in helping to pected to reap the demographic divi- broadly shared. “Longevity dividend
improve health and longevity, trans- dend which will reach its peak in 2034, remains only a potential unless core
forming jobs and the workplace that we need to prepare for the inevitable institutions redesign themselves to be
is more flexible and friendly to senior change and learn lessons from aging able to handle new changes brought by
workers, and providing support to aging economies.” technology,” said Ms. Norma Mansor.
populations through better education “Investing in the skills of senior The panelists also noted the role
and training. workers and boosting their productiv- of regional cooperation in enhancing
The panel agreed, however, that ity is a win-win for both workers and cross-border labor mobility to benefit
the potential gains from technology can the firms,” said Mr. Koichi Narasaki. from the diversity in population profile
only be harvested by conscious efforts Strengthening education and lifelong across the region. The governments
and policy actions. Indonesia’s National training helps equip the aging workers in the region may benefit by working
Development Planning Minister and with ability and capacity to adapt to together to improve the portability of
BAPPENAS Chair Bambang P.S. rapid technological change. “OECD skills and social security benefits. ½
12 HIGHLIGHTS OF THE 2018 ADB ANNUAL MEETING IN MANILA, PHILIPPINESADB SEMINARS AND INSTITUTIONAL EVENTS
ADB’s Performance in Transition to Strategy 2030:
The 2017 Development Effectiveness Review
3 MAY 2018, 10:00–11:00 A.M. • SEMINAR COORDINATOR: BERNARD WOODS
Presenter
Bernard Woods, Director, Results Management and Aid Effectiveness Division, Strategy, Policy and Review Department, ADB
Panelists
Ernesto Pernia, Secretary of Socioeconomic Planning and Director General, National Economic and Development Authority,
Philippines
Cristelle Pratt, Deputy Secretary General, Pacific Islands Forum Secretariat
Moderator
Stephen P. Groff, Vice-President for Operations 2, ADB
The Development Effectiveness Review is ADB’s primary tool for
monitoring and strengthening progress on the priorities of Strategy 2020
and its midterm review.
www.adb.org/documents/series/development-effectiveness-review
THE SEMINAR launched ADB’s 2017 development, particularly related to in addressing issues related to endur-
Development Effectiveness Review. Mod- clean energy, water and sanitation for ing gaps in access to infrastructure,
erator Stephen Groff, vice-president all. ADB also made progress in support complex social issues including fam-
for operations 2, stressed the important of gender equality (SDG 5), with 48% of ily planning and population manage-
role of the report in holding ADB ac- all the bank’s projects supporting gen- ment, promoting innovation, science
countable to its stakeholders for deliv- der mainstreaming last year. The share and technology, as well as helping to
ering concrete development results. of ADB projects successfully delivering address inter-regional disparities. Ms.
Bernard Woods, director of gender equality results has increased Pratt highlighted the strong resonance
the Results Management and Aid to 77%, above the target of 70%. It also of ADB priorities for countries in the
Effectiveness Division, presented re- made important contributions on cli- Pacific, and the need to continue to in-
port findings through the lens of ADB’s mate action (SDG 13), as operations novate to find appropriate solutions to
efforts to support the Sustainable addressing climate change rose to 49% the development needs of small island
Development Goals (SDGs) in Asia and in 2015–2017, exceeding the 45% 2020 developing states.
the Pacific. He explained the alignment target. Climate change finance reached The audience raised questions re-
of ADB’s transitional results framework a record $5.16 billion in 2017. lated to the efforts that multilateral de-
with the SDGs, and the links between Mr. Ernesto Pernia welcomed the velopment banks and governments are
ADB results and the SDGs. report and the progress it highlighted, making to accelerate progress towards
ADB has made important invest- while stressing the need for ADB to the SDGs, and align their investments
ments in infrastructure for sustainable continue to be flexible and responsive in infrastructure with the Goals. ½
Stephen P. Groff Bernard Woods Cristelle Pratt Ernesto Pernia
LINKING PEOPLE AND ECONOMIES FOR INCLUSIVE DEVELOPMENT 13ADB SEMINARS AND INSTITUTIONAL EVENTS
Private Sector Participation in Asian Infrastructure Development
3 MAY 2018, 10:30 A.M.–12:00 P.M. • SEMINAR COORDINATORS: CHRISTOPHER THIEME AND ANTOLIN NAGUIAT
Panelists
Joseph Bevash, Office Managing Partner, Tokyo and Seoul Offices, Latham and Watkins
Yumiko Noda, President and Representative Director, Veolia Japan K.K.
Nandita Parshad, Managing Director, Energy and Natural Resources, European Bank for Reconstruction and Development
Harold J.D. Tjiptadjaja, Managing Director-Chief Investment Officer, PT Indonesia Infrastructure Finance
Syed Afsor Hassan Uddin, Chief Executive Officer, Public Private Partnership Authority, Prime Minister’s Office, Bangladesh
Moderator
Jon Whiteaker, Editor, IJGlobal
From left: Jon Whiteaker, Joseph Bevash, Yumiko Noda, Harold J.D. Tjiptadjaja, Nandita Parshad, Syed Afsor Hassan Uddin
IN OPENING, ADB Vice-President is a partnership. Therefore, an optimal implement, and manage PPP projects.
for Private Sector and Cofinancing balance should be attained where the Use of credit enhancement products
Operations Diwakar Gupta highlight- potential of both parties is maximized. to make the project viable should also
ed the large infrastructure gap in the Institutional investors can also be explored as part of the project struc-
region and recognized the important play a role in financing the infrastruc- turing phase. Blending sovereign and
role of the private sector in bridging the ture gap. But there are prerequisites for nonsovereign finance at the transaction
gap. Three key areas were highlighted their participation. Properly structured level can also be considered.
for more effective public-private part- projects will attract private sector in- In summary, the panel reiterated
nerships (PPPs). These are the creation vestments but given the risk appetite of the importance of properly structured
of an enabling environment, robust institutional investors, it may be easier projects backed by strong government
project preparation, and development to bring them in toward the end of the commitment, well-established pro-
of the local and regional financial mar- construction period. There is also in- cesses, and fair and transparent bidding
kets—including capital markets to creasing interest in green financing, but practices in bringing in much-needed
channel Asia’s large savings to infra- critical mass is needed to penetrate the private sector investment for infra-
structure investment and local financial market. Credit enhancement products structure in Asia. ½
institutions to provide long-term proj- can help to further attract institutional
ect finance in local currencies. investors to infrastructure.
The panel discussion recognized Panelists saw an important role SEMINAR CO-SPONSORED BY
PPPs as one of the best solutions to for multilateral development banks in
address the infrastructure gap in the catalyzing private sector financing for
region. When done properly, PPPs can infrastructure projects. Several ADB
bring in innovation and increased effi- developing member countries still need
ciency for the delivery of services to the upstream support to build and strength-
public. Panelists also stressed that PPP en their capacity to structure, procure,
14 HIGHLIGHTS OF THE 2018 ADB ANNUAL MEETING IN MANILA, PHILIPPINESADB SEMINARS AND INSTITUTIONAL EVENTS
ADB Insights: Promoting Inclusive Growth
through Inter-subregional Cooperation
3 MAY 2018, 2:00–2:45 P.M. • SEMINAR COORDINATOR: ARJUN GOSWAMI
Panelists
Anil Bhardwaj, Secretary General, Federation of Indian Micro and Small & Medium Enterprises
Fernanda Borges, Fiscal Reform Coordinator, Fiscal Reform Commission, Ministry of Planning and Finance, Timor-Leste
Ali Moechtar, Head of Subdivision for Welfare and Employment Analysis, Center for Macroeconomic Policy, Fiscal Policy Agency,
Ministry of Finance, Indonesia
Speakers
Anna Fink, Economist, Regional Cooperation and Integration Thematic Group, ADB
Arjun Goswami, Chief of the Regional Cooperation and Integration Thematic Group, ADB
THE INSTITUTIONAL EVENT for Bhardwaj, the secretary general for the
sector and thematic groups within ADB Federation of Indian Micro and Small
was opened by the session on regional and Medium Enterprises, stated that
cooperation and integration. The ses- he found the study significant and in-
sion focused on innovative approach- novative. He emphasized that the fo-
es to supporting inclusive growth by cus on cross border opportunities for
helping lagging regions and “dynamic” “dynamic” SMEs could provide the
small and medium-scale enterprises necessary push for policy changes and
(SMEs) respectively, to benefit from domestic reforms in factor and product
inter-subregional trade and investment markets for greater regional trade and
flows. This was explored through two investment.
business research studies undertak- Mr. Ali Moechtar stated his sup-
en by the Regional Cooperation and port for the scoping study on great- aligned with the government’s strategic
Integration Thematic Group: a study er cooperation and integration with objectives.
of the potential to expand and diversi- Timor-Leste. He emphasized that Ms. Fernanda Borges, as the project
fy foreign direct investment of SMEs in cross border cooperation is an import- focal point for Timor-Leste, empha-
the India and Mekong subregions; and a ant means of addressing inequality sized that cooperation and integration
study on the potential and feasibility of within Indonesia by supporting eco- with Indonesia is very important in
creating a cross border economic zone nomic growth within one of Indonesia’s helping Timor-Leste reach their nation-
and corridor linking the border areas of poorest regions. He also expressed al development goals. She considers the
Timor-Leste and eastern Indonesia. his support for the two focus areas of cross-border study as essential given
Panelists for the session were very recommended cooperation, name- that this will help them understand the
supportive of the two studies. Mr. Anil ly agriculture and tourism, which are perspective and objectives of Indonesia
and it will highlight the areas for legisla-
tive and regulatory reform that Timor-
Leste should undertake.
The dean of the ADB Institute
asked the panelists if they had consid-
ered fisheries and particularly seaweed
as an area of cooperation. The panelists
responded that indeed this is also an im-
portant area and is included in a broader
definition of cooperation on agriculture,
but that other areas, particularly live-
stock, are seen as a higher immediate
priority given the more direct benefits
to residents at the border area. ½
From left: Anna Fink, Arjun Goswami, Anil
Bhardwaj, Fernanda Borges, Ali Moechtar
LINKING PEOPLE AND ECONOMIES FOR INCLUSIVE DEVELOPMENT 15ADB SEMINARS AND INSTITUTIONAL EVENTS
ADB Insights: The Future of Energy Systems
3 MAY 2018, 3:00–3:45 P.M. • SEMINAR COORDINATOR: YONGPING ZHAI
Panelists
Antonio Della Pelle, Client Development Director, McKinsey Energy Insights
Lin Lu, Senior Energy Specialist, East Asia Department, ADB
Tri Mumpuni, Founder and Executive Director, People Centered Business and Economic Institute
Cindy Cisneros Tiangco, Senior Energy Specialist, Central and West Asia Department, ADB
Moderator
Yongping Zhai, Chief of Energy Sector Group, ADB
improving the air quality of the greater
Beijing Tianjin and Hebei region in the
PRC. Into its fourth intervention cur-
rently, the program is a comprehensive
and dynamic application of approach-
es, instruments and interventions with
broad multisectoral impacts. It has
employed policy-based and financial
intermediary loan instruments apart
from the conventional project-based
intervention while cutting across vari-
ous sectors from urban development,
energy, and transport. The 2017 project
put emphasis on advance technology
applications that will improve energy
efficiency in small and medium-scale
enterprises.
THE SEMINAR presented the global is the electrification of road transport, Cindy Tiangco presented the pre-
energy trends through 2050, the major which will further bring down the con- paratory work being done to assess
upheavals expected ahead and gave a sumption of oil, seen to peak before the feasibility of applying floating solar
glimpse of how ADB has started to re- 2040. Reducing CO2 emissions, howev- technology in Afghanistan, Azerbaijan,
spond to the ever-changing landscape er will remain a challenge. Energy-related and the Kyrgyz Republic. Potential sites
of the energy sector and continuing CO2 emissions will peak around 2030 have already been identified and stud-
evolution of energy systems. It also pro- but will remain more than twice the 2°C ies conducted to inform on the scale,
vided space for how on-the-ground ex- target. Based on McKinsey’s analysis, specifications, and technology to be
periences has also started to shift. taking into consideration system per- applied.
According to Antonio Della Pelle formance and transition readiness, Asia The seminar was graced with a
of McKinsey and Company, global en- is poised to transition its energy systems view from the grassroots. Tri Mumpuni
ergy demand driven by India, Africa and to the future as the People’s Republic of shared their efforts in providing elec-
other developing countries in Asia, will China (PRC), North Asia, and East Asia tricity to households in remote areas in
increase by around 25% through 2050. lead while India, Southeast Asia, and Indonesia. Theirs is an intervention that
Renewables, particularly wind and so- Central Asia are just about to cross that seeks to improve the socioeconomic
lar, will grow 5–10 times faster than gas critical midpoint. situation of rural households using elec-
as other fossil-fuel based generation Lin Lu shared the various ways tricity connection as entry point and
like coal slows down. One of the major that ADB has applied innovation in a means to create income-generating
disruptions expected during the period technology, finance and approaches in opportunities. ½
Yongping Zhai Lin Lu Antonio Della Pelle Cindy Cisneros Tiangco Tri Mumpuni
16 HIGHLIGHTS OF THE 2018 ADB ANNUAL MEETING IN MANILA, PHILIPPINESADB SEMINARS AND INSTITUTIONAL EVENTS
ADB Insights: Adapting to an Aging Asia—
Building Opportunities to Support the Longevity Revolution
3 MAY 2018, 4:00–4:45 P.M. • SEMINAR COORDINATOR: WENDY WALKER
Panelists
Eduardo Banzon, Principal Health Specialist, ADB
Tania Rajadel, Education Specialist, ADB
Srinivas Sampath, Chief of the Public-Private Partnership Thematic Group, ADB
Hiroko Uchimura-Shiroishi, Senior Social Sector Specialist, ADB
Moderator
Wendy Walker, Chief of the Social Development Thematic Group, ADB
From left: Wendy Walker, Hiroko Uchimura-Shiroishi, Eduardo Banzon, Tania Rajadel, Srinivas Sampath
THE ASIA AND PACIFIC region is tem and services that have led to two sal health coverage initiatives to re-
currently home to over half the world’s lending projects: one on long-term care duce the financial risks and address the
population over 60 years of age. By systems and priority services develop- needs for care.
2050, this percentage is expected to ment (e.g., dementia care, communi- Tania Rajadel outlined the human
rise to nearly two-thirds or close to 1.3 ty-based) and another that demon- resource challenges and opportunities
billion. This seminar highlighted the strates public-private partnerships to in long-term care across the region,
demographic transition currently un- deliver services in Yichang, Hubei. A pointing out that tackling the skills gap
derway, outlined how ADB is devel- new technical assistance with the cen- is a complex challenge, as it covers a
oping new lending and technical assis- tral government is being designed to broad range of occupations and skill
tance to support developing member help strengthen policy development levels, and there are regional and global
countries (DMCs), and suggested ar- and program design in the sector. dimensions of supply and demand that
eas for collaboration with DMCs going Eduardo Banzon underlined the need to be addressed.
forward. challenges of rapid aging for the re- Srinivas Sampath presented on the
Hiroko Uchimura described ADB’s gion’s health systems and the need for existing use of public-private partner-
growing portfolio on long-term care countries to reconfigure health ser- ships for long-term care. He identified
in the People’s Republic of China, in- vices delivery to support integration, challenges and opportunities in such
cluding an initial technical assistance coordination, and a continuum of care. partnerships to improving service deliv-
on strategic planning for the care sys- Countries also need to step up univer- ery efficiency and quality. ½
Countries need to step up universal health coverage initiatives to reduce the financial
risks and address the needs for care. Tackling the skills gap is a complex challenge,
as it covers a broad range of occupations and skill levels, and there are regional and
global dimensions of supply and demand that need to be addressed.
LINKING PEOPLE AND ECONOMIES FOR INCLUSIVE DEVELOPMENT 17ADB SEMINARS AND INSTITUTIONAL EVENTS
ADB Insights: The Future of Skills and Jobs
3 MAY 2018, 3:00–3:45 P.M. • SEMINAR COORDINATOR: BRAJESH PANTH
Panelists
Rana Hasan, Development Economics and Indicators Director, Economic Research and Regional Coordination Department, ADB
Ayako Inagaki, Southeast Asia Human and Social Development Director, Southeast Asia Department, ADB
Sungsup Ra, South Asia Human and Social Development Director, South Asia Department, ADB
Moderator
Brajesh Panth, Chief of the Education Sector Group, Sustainable Development and Climate Change Department, ADB
Brajesh Panth Rana Hasan Ayako Inagaki Sungsup Ra
THE PANEL DISCUSSION kicked to respond to such changes. There skills and changing occupations. Such
off with a brief presentation on the was consensus that automation is im- diagnostics need to be matched with
key findings of the ADB publication, pacting skills and jobs but perhaps at supply side interventions which need to
Asian Development Outlook 2018: How a slower pace. There are also spinoffs look at foundational skills (in addition
Technology Affects Jobs. The lead author from technologies that create new to 3Rs covering reading, writing and
noted that automation is affecting low- opportunities. arithmetic), project-based and work-
end manual skills but its impact is slow- An important strategy for Asia and based learning, career guidance and
er at the middle and particularly higher the Pacific is to support foundational more effective delivery mechanisms
skills that involve non-routine tasks. skills including digital and socio-emo- (e.g. e-learning).
Even where automation is happening, tional skills at the school level and build Second, there was an emphasis on
this leads to higher demand of products high-level skills (polytechnics and high- blending different policies (education,
due to cost reduction and improved er education) in high growth, high-tech industrial, economic, and investments)
quality of products, which in turn gen- industries in high growth urban and and developing partnerships with gov-
erate more jobs (e.g. ATMs). In some semi-urban centers. ernments, private sector, and training
cases, automation leads to creation of The seminar explored possible im- providers to work together towards a
new occupations (e.g. cybersecurity) plications on how ADB can support its more holistic and whole of government
and more jobs. developing member countries. approach.
In light of the rapid changes in First, the labor market diagnostics There were also suggestions to
technologies and disruptions that such need to improve by using big data ana- consider continuous learning, adaptive
technologies are causing in almost all lytics to mine data from professional job learning, and closer partnerships be-
sectors, the panelists explored how portals, company databases, and gov- tween education and employers to pro-
education and training systems need ernment databases to identify trends in mote job ready skills. ½
An important strategy
for Asia and the Pacific is
to support foundational
skills including digital and
socio-emotional skills
at the school level and
build high-level skills in
high growth, high-tech
industries.
18 HIGHLIGHTS OF THE 2018 ADB ANNUAL MEETING IN MANILA, PHILIPPINESADB SEMINARS AND INSTITUTIONAL EVENTS
Breaking Barriers: Women Entrepreneurs in Asia and the Pacific
3 MAY 2018, 2:00–3:30 P.M. • SEMINAR COORDINATOR: SONOMI TANAKA
Panelists
Graeme Buckley, Director, Office of the Decent Work Team for East Asia, South East Asia, and the Pacific; and Director, Country
Office for Thailand, Cambodia, and Lao People’s Democratic Republic, International Labour Organization
Fransiska Hadiwidjana, Founder and CEO, Prelo
Zenaida Maglaya, Undersecretary, Department of Trade and Industry, Philippines
Takehiko Nakao, President and Chairperson of the Board of Directors, ADB
Yumiko Noda, President and Representative Director, Veolia Japan K.K.
Rokia Afzal Rahman, President, Bangladesh Federation of Women Entrepreneurs
Moderator
Sharanjit Leyl, Presenter, BBC World News
Sharanjit Leyl Yumiko Noda Takehiko Nakao Rokia Afzal Rahman Zenaida Maglaya Fransiska Hadiwidjana Graeme Buckley
THE WORLD ECONOMIC FORUM’S en in entrepreneurship in the region. such as enacting laws and strategies on
2017 Global Gender Gap Report an- Among the key challenges are lack of financial inclusion, and setting numeri-
nounced that women are falling behind access to finance and markets, as well as cal targets for women leaders, women
after a decade of progress, stating that limited education and training in start- entrepreneurs and women-led MSMEs.
217 years are needed to close gender ing, managing, and growing a business. Comprehensive support is needed for
gaps in economic and political spheres. Legal and regulatory barriers across the women startups and entrepreneurs,
Supporting women’s entrepreneurship region; lack of an enabling environment, including access to finance, financial
is key to strengthening women’s eco- including networks; and unpaid care literacy, business skills, networking, and
nomic empowerment, as programs led work impede women’s ability to start a mentoring. The panelists also cited that
by multilateral, regional, and bilateral business. Social and cultural norms and support from peers, partners, and family
public entities and the private sector practices constraining women’s mobility members are critical in changing deep-
demonstrate. and interactions adversely affect wom- ly entrenched social norms and helping
Through this seminar, policymak- en’s opportunities for entrepreneurship. women engage and succeed in business.
ers, entrepreneurs, researchers, and de- Despite these difficulties, women-led Moving forward, the panelists ex-
velopment practitioners discussed how micro, small, and medium-sized enter- pressed their commitments to strength-
the public and private sectors can help prises (MSMEs) are growing, and some ening gender analysis in MSME value
overcome multiple barriers and accel- successfully thriving, including those in chains, improving sex-disaggregated
erate support for women startups and the technology sector (e-commerce, data in the MSME sector, mentoring
entrepreneurs. online marketing), and other emerging young women startups, and supporting
The seminar identified challenges innovative areas. efforts to improve women entrepre-
and successes experienced by wom- The seminar highlighted initiatives neurs’ digital literacy and networking. ½
LINKING PEOPLE AND ECONOMIES FOR INCLUSIVE DEVELOPMENT 19ADB SEMINARS AND INSTITUTIONAL EVENTS
New Technologies in Finance:
Opportunities and Challenges for Asia
3 MAY 2018, 4:00–5:30 P.M. • SEMINAR COORDINATOR: JOSEPH ERNEST ZVEGLICH, JR.
Panelists
Nestor Espenilla, Alternate Governor for the Philippines, ADB; and Governor, Bangko Sentral ng Pilipinas
Mitsuhiro Furusawa, Deputy Managing Director, International Monetary Fund
Oh-Seok Hyun, Chair Professor, Korea National Diplomatic Academy
Julie Maupin, Director of Social Impact and Public Regulatory Affairs, IOTA Foundation
Takehiko Nakao, President and Chairperson of the Board of Directors, ADB
Moderator
Dawn Tan, Presenter, Channel News Asia
From left: Dawn Tan, Nestor Espenilla, Takehiko Nakao, Julie Maupin, Mitsuhiro Furusawa, Oh-Seok Hyun
ASIA AND THE PACIFIC has made While cryptocurrencies like Bitcoin known implications of technologies
important progress in deepening its get much of the attention in the press, that are still being tested. The discus-
financial systems. Yet key challenges the technologies underlying them could sion stressed the need for an environ-
remain to expanding financial inclu- have important broader applications in ment that fosters innovation and close-
sion, promoting regional financial in- meeting the region’s financial sector ly monitors them, such as the “test and
tegration, and further developing lo- development challenges. Seminar par- learn” approach that Bangko Sentral
cal currency corporate bond markets. ticipants also agreed that new technol- ng Pilipinas has taken. “Governments
Moreover, looming on the horizon are ogies hold promise for bringing financial in the region can improve financial in-
potentially game-changing techno- services to poorer communities and for clusion by broadening access to basic
logical advances—such as distributed overcoming the difficulty of obtaining digital infrastructure and providing an
ledger technology, blockchains, crypto- the collateral needed to access formal enabling environment for innovators
currencies, machine learning, and big credit markets. and entrepreneurs,” Mr. Nakao sum-
data—that impinge upon financial mar- Panelists noted the wariness of marized. “Policymakers should also
kets. Panelists in this seminar co-host- regulators when it comes to the un- consider ways to improve regulations,
ed by ADB, the International Monetary including protecting consumers against
Fund, and Bangko Sentral ng Pilipinas cybercrimes and fraud, while striking
discussed how new technologies can
New technologies hold the right balance between innovation
deliver large benefits but may harbor promise for bringing and financial stability.” ½
unknown risks. financial services to poorer
Mr. Takehiko Nakao joined Mr.
Mitsuhiro Furusawa, Mr. Nestor communities and for
JOINT SEMINAR WITH
Espenilla, Mr. Oh-Seok Hyun, and Ms. overcoming the difficulty
Julie Maupin to exchange thoughts on
how new financial technologies can
of obtaining the collateral
help extend financial inclusion while needed to access formal
balancing the regulatory challenges credit markets.
these innovations present.
20 HIGHLIGHTS OF THE 2018 ADB ANNUAL MEETING IN MANILA, PHILIPPINESADB SEMINARS AND INSTITUTIONAL EVENTS
Unleashing Asia’s Capital in the Age of Choice
4 MAY 2018, 9:00–10:00 A.M. • SEMINAR COORDINATOR: NATHAN SUBRAMANIAM
Panelists
Diwakar Gupta, Vice-President, Private Sector and Cofinancing Operations, ADB
Michal Ron, Managing Director, Head of International Business, SACE S.p.A.
Topi Vesteri, Deputy CEO and Group Chief Credit Officer, Finnvera plc, Finland’s export credit agency and SME finance agency
Benjie Yap, Chair, Unilever Philippines
Moderator
Marvin Taylor, Director General, Independent Evaluation Department, ADB
Marvin Taylor Diwakar Gupta Michal Ron Topi Vesteri Benjie Yap
ASIA IS HOME to the world’s fastest sources of capital is of great importance wider participation of the unbanked in
growing economies. However, the fi- to the region. the region so that large sums of house-
nancing needs of the Asia and Pacific The seminar, Unleashing Asia’s hold savings could be tapped to help
region far exceed funds available from Capital in the Age of Choice organized bridge this investment gap in Asia and
governments’ own resources and from by the ADB Independent Evaluation the Pacific. He stressed the need to use
international financial institutions. Department and moderated by its di- innovation and mobile banking to bank
The region needs to invest trillions per rector general, Marvin Taylor, discussed the unbanked.
year to resolve a serious infrastructure how governments and institutions like Panelists discussed collaboration
shortage that threatens to hold back ADB can help mobilize non-public and how market players like govern-
some of these fast-growing econo- funds to bridge this investment gap. ments, international financial institu-
mies. Also, the region needs to attract Representing ADB at the seminar, Vice- tions, and private sector can collaborate
huge amounts of finance to combat cli- President for Private Sector Operations to bridge this funding gap. The need for
mate change and achieve other United Diwakar Gupta said that apart from projects in Asia to be bankable and able
Nations Sustainable Development other measures, there is need to create to provide competitive returns on a
Goals. Therefore, mobilizing private an enabling environment to facilitate risk-adjusted basis when compared to
global alternatives was stressed upon.
In this context, guarantees offered by
governments and multilateral develop-
ment banks continue to be important.
ADB’s credit enhancement products in
the form of guarantees and syndication
arrangements can help bridge these
investment gaps and contribute signifi-
cantly to meeting ADB’s development
objectives.
Mobilizing private sources of cap-
ital is therefore of great importance to
developing countries and their strategic
development partners, and this includes
an increasing role for multilateral devel-
opment banks in leveraging finance and
expertise from the private sector. ½
LINKING PEOPLE AND ECONOMIES FOR INCLUSIVE DEVELOPMENT 21ADB SEMINARS AND INSTITUTIONAL EVENTS
Transparency and Stakeholders’ Engagement
in Compliance Review
4 MAY 2018, 2:00–3:00 P.M. • SEMINAR COORDINATOR: MUNAWAR ALAM
Panelists
Warren Evans, Special Project Facilitator, ADB
Helmut Fischer, Executive Director for Austria, Germany, Luxembourg, Turkey, and the United Kingdom, ADB
Rayyan Hassan, Executive Director, NGO Forum on ADB
Amy S.P. Leung, Director General, East Asia Department concurrently Director General, Sustainable Development and Climate
Change Department, ADB
Hamid Sharif, Managing Director, Compliance, Effectiveness and Integrity, Asian Infrastructure Investment Bank
Dingding Tang, Chair, Compliance Review Panel, ADB
Moderator
Munawar Alam, Advisor, Office of the Compliance Review Panel, ADB
From left: Munawar Alam, Warren Evans, Rayyan Hassan, Helmut Fischer, Dingding Tang, Amy S.P. Leung, Hamid Sharif
THIS SESSION provided a diverse mix Dingding Tang, chair of the complaints mechanism, will shorten
of panelists, which included a member Compliance Review Panel, mentioned the journey from complaint to reme-
of the ADB Board of Directors, ADB good practices in compliance review dy for project-affected persons. Amy
accountability mechanism heads, an that support transparency and stake- Leung, director general of the East Asia
NGO leader, a director general from holder engagement. He introduced Department, shared lessons learned
operations, and a head of compliance, the ADB guidebooks on compliance from experience on the ground. She
effectiveness, and integrity unit of an- review, to be released as digital publica- focused on ADB’s commitment to im-
other multilateral development bank. tions, which were developed to respond plementing its safeguard policy and
From varying perspectives, the to stakeholders’ clamor for information the need to support ADB’s developing
speakers underscored the importance about the compliance review function member countries to ensure that they
of transparency and stakeholder en- and provide information for them to can implement projects effectively
gagement in ADB operations, knowl- meaningfully and effectively engage in while safeguarding project affected
edge sharing and consensus-build- a compliance review, if needed. Warren people and their environment.
ing, and continuous effort towards Evans, ADB special project facilitator, Lastly, Hamid Sharif, director gener-
poverty alleviation and sustainable explained the primacy of transparency al of the Compliance, Effectiveness and
development. and stakeholder engagement in prob- Integrity Unit of the Asian Infrastructure
Helmut Fischer, chair of ADB’s lem solving. Investment Bank (AIIB) said that AIIB
Board Compliance Review Committee, Rayyan Hassan, executive direc- benefits from the experience of other
highlighted the primacy of transparen- tor of NGO Forum on ADB, articulat- multilateral development banks and this
cy in forging trust and fostering engage- ed that transparency and stakeholder certainly creates higher expectations on
ment among ADB’s partners in devel- engagement, if coupled with structur- AIIB when it comes to transparency and
opment work. al independence and integrity of the stakeholder engagement. ½
22 HIGHLIGHTS OF THE 2018 ADB ANNUAL MEETING IN MANILA, PHILIPPINESADB SEMINARS AND INSTITUTIONAL EVENTS
Rule of Law for Inclusive and Sustainable Development:
ADB’s Law and Policy Reform Program at Work
4 MAY 2018, 3:30–4:30 P.M. • SEMINAR COORDINATOR: IRUM AHSAN
Panelists
Ambeng Kandakasi, Justice, Supreme and National Courts of Justice of Papua New Guinea
Samar Minallah Khan, Anthropologist and International Award-Winning Documentary Filmmaker
Neil Jensen, International Anti-Money Laundering/Combating the Financing of Terrorism Specialist and former CEO of AUSTRAC,
Australia’s anti-money laundering regulator and financial intelligence unit
Sonia Chand Sandhu, Senior Advisor to the Vice-President for Knowledge Management and Sustainable Development, ADB
Irum Ahsan, Senior Counsel for Law and Policy Reform, Office of the General Counsel, ADB
Moderators
Christopher Stephens, General Counsel, ADB
Christina U. Pak, Senior Counsel, ADB
A STRONG legal infrastructure is of environmental impacts and imple- with ADB’s assistance, as an eye-opener
crucial in accelerating poverty allevia- mentation of optimal infrastructure to the South Pacific region about the ur-
tion and inclusive and sustainable de- design and resource allocation. Irum gency of international arbitration reform
velopment. Since 1995, the Office of Ahsan discussed the impact of ADB’s and the availability of ADB support.
the General Counsel’s Law and Policy work with judiciaries on environment: Ms. Ahsan described ADB’s ini-
Reform Program, has been helping green courts, specialized judges, and tiatives to change stereotypical and
member countries develop effective landmark jurisprudence. Christina Pak patriarchal mindsets, promote gender
laws and build institutional capaci- discussed ADB’s Train-the-Trainers equality, and combat violence against
ty. This event highlighted significant program, which has been educating women in Afghanistan, Pakistan, and
achievements of the program. hundreds of environmental law cham- Tajikistan. ADB has been working with
Neil Jensen emphasized the impor- pions in the region. legal service providers on gender sen-
tance of people’s confidence in the in- Ms. Pak also highlighted ADB’s sitization, gender equality legislation,
tegrity and stability of financial systems. work with South Pacific legislatures and and gender-based violence court estab-
He noted the Financial Action Task judiciaries on international commercial lishment, and targeting rural communi-
Force’s requirements on anti-money arbitration reform to promote foreign ties and media on pro-gender equality
laundering/combating the financing of direct investment and cross- border advertisement. Lastly, Samar Minallah
terrorism and sanctions for non-com- trade. Justice Ambeng Kandakasi af- Khan related how traditional media can
pliance; the challenges, particularly re- firmed the need for arbitration reform apply culturally-sensitive approach-
source constraints, that stakeholders to attract foreign investors. He acknowl- es (e.g., truck art and puppet shows)
face; and ADB’s national risk assess- edged Fiji’s International Arbitration Act to effect positive changes in laws and
ments and capacity-building programs. (2017), which the government enacted jurisprudence. ½
Sonia Chand Sandhu talked about
the crucial role of judges in advancing ADB has been working with legal service providers on
sustainable, resilient and inclusive de- gender sensitization, gender equality legislation, and
velopment; enforcing environmental
laws; and ensuring effective mitigation gender-based violence court establishment.
From left: Irum Ahsan, Sonia Chand Sandhu, Neil Jensen, Christopher Stephens, Samar Minallah Khan, Ambeng Kandakasi, Christina U. Pak
LINKING PEOPLE AND ECONOMIES FOR INCLUSIVE DEVELOPMENT 23ADB SEMINARS AND INSTITUTIONAL EVENTS
Strengthening Climate and Disaster Resilience:
Investing in Community-led Solutions
4 MAY 2018, 4:30–6:00 P.M. • SEMINAR COORDINATOR: ARGHYA SINHA ROY
Opening remarks
Bambang Susantono, Vice-President for Knowledge Management and Sustainable Development, ADB
Panelists
Kamal Kishore, Member, National Disaster Management Authority, India
Ernesto Pernia, Secretary of Socioeconomic Planning and Director General, National Economic and Development Authority,
Philippines
Cristelle Pratt, Deputy Secretary General, Pacific Islands Forum Secretariat
Sandra Schilen, Acting Executive Director, Huairou Commission
Sutanto Soehodho, Deputy Governor for Industry, Trade and Transport, Jakarta City, Indonesia
German Velasquez, Director, Mitigation and Adaptation Division, Green Climate Fund
Moderator
Clare Shakya, Director of Climate Change, International Institute for Environment and Development
The discussion emphasized that
as we step up our efforts to achieve the
global 2030 development agenda, we
should focus on the following factors to
bring transformational changes in the
lives of the most vulnerable:
1. Invest in vulnerability reduction
through improved access to infra-
structure, finance, and information.
2. Ensure that science and technology
advancements reach society and in-
From left: Sutanto Soehodho, Cristelle Pratt, Ernesto Pernia, Clare Shakya, Kamal Kishore,
Sandra Schilen, German Velasquez
form local-level decision-making.
3. Empower local government by im-
DESPITE SIGNIFICANT PROGRESS solutions are those that foster wider proving capability and strengthening
in reducing poverty, the Asia and Pacific development gains in the immediate their accountability to citizens.
region remains home to a large share term and are flexible enough to man- 4. Strengthen risk governance mech-
of the world’s poor. The poor rely on age uncertainties stemming from pos- anisms that embrace inclusive,
fewer assets, have limited access to fi- sible changes in hazard intensity and multi-sectoral and multi-stakeholder
nance, lack opportunities to engage in frequency. approaches.
sustainable livelihoods, and are often Panelists in the seminar shared 5. Partner with the private sector to
left out of formal decision-making pro- concrete examples demonstrating ramp up investments in resilience. ½
cesses. Consequently, they experience the value of locally-driven solutions in
disproportionate impacts from climate strengthening resilience. They empha-
and disaster risk resulting in loss of sized the importance of undertaking
life, assets, livelihoods, and well-being. such solutions in the wider develop-
Moreover, different communities may ment context to reach scale, and dis-
experience risk differently. Thus, it is cussed how the principles of subsid-
important to engage the communities iarity can be applied in strengthening
in identifying the underlying factors resilience, where having identified re-
contributing to risk and prioritizing silience solutions locally, actions should
solutions to strengthen resilience. be undertaken at appropriate scale—
Given the uncertainties associated local, basin-wide, national, and region-
with assessing potential impacts of cli- al, in order to address the systemic na-
mate and disaster risk, ideal resilience ture of risk. Bambang Susantono
24 HIGHLIGHTS OF THE 2018 ADB ANNUAL MEETING IN MANILA, PHILIPPINESSponsored Seminars
The role of private sector in the development of Asia and the Pacific
Investing for a Sustainable Future:
The Search for Sustainable Long-Term Investment Returns 27
The Way Forward on Global Trade Imbalances 28
Civil Registration and Identification for Development
in Asia and the Pacific 29
Solving the Capital Markets Conundrum for Asian Infrastructure 30SPONSORED SEMINARS
Investing for a Sustainable Future:
The Search for Sustainable Long-Term Investment Returns
3 MAY 2018, 12:15–1:45 P.M. • SEMINAR COORDINATOR: ADAM COTTER, OFFICIAL MONETARY AND FINANCIAL INSTITUTIONS FORUM
Panelists
Bambang Brodjonegoro, Alternate Governor for Indonesia, ADB; and Minister of National Development Planning, Indonesia
Jingdong Hua, Vice-President and Treasurer, International Finance Corporation
Ingrid van Wees, Vice-President for Finance and Risk Management, ADB
Wencai Zhang, Vice-President for Operations 1, ADB
Xian Zhu, Vice-President and Chief Operations Officer, New Development Bank
Moderator
Adam Cotter, Head of Asia and Chief Representative, Official Monetary and Financial Institutions Forum
From left: Adam Cotter, Bambang Brodjonegoro, Jingdong Hua, Ingrid van Wees, Wencai Zhang, Xian Zhu
So long as strong frameworks are established, leveraging the growing sensitivity
of public investors to sustainable development will enable emerging countries to
mobilize more funds to build low-carbon infrastructure.
THE OFFICIAL MONETARY AND Among the topics discussed by multilateral development banks for
FINANCIAL INSTITUTIONS were demographic trends, expanding enhancing and deepening local capital
FORUM (OMFIF) convened a panel intra-Asian investment, attracting in- markets.
discussion at the ADB Annual Meeting vestment flows from high growth and The seminar forms part of a series
in Manila. A major conclusion of the mature economies, and expanding local of interactions on sustainable finance
seminar was that so long as strong currency bonds for infrastructure in- that OMFIF is organizing around the
frameworks are established, leverag- vestment and assessing environmental, world. ½
ing the growing sensitivity of public social, and governance (ESG)-related
SPONSORED BY
investors to sustainable development opportunities. The meeting heard ADB
will enable emerging countries to mo- case studies on financing solar roof top
bilize more funds to build low-carbon projects in India, Bangladesh and Sri
infrastructure. Lanka, as well as methods promoted
LINKING PEOPLE AND ECONOMIES FOR INCLUSIVE DEVELOPMENT 27You can also read
