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Turkiye advocates for prioritizing development outcomes in ADB Agenda, states Osman Celik

5 May 2024 20:51 (UTC+04:00)
Turkiye advocates for prioritizing development outcomes in ADB Agenda, states Osman Celik

Turkiye encourages the Asian Development Bank (ADB) to prioritize development outcomes while maintaining lending volumes, Deputy Minister of Treasury and Finance of Turkiye Osman Celik said during the annual meeting of the ADB in Tbilisi, Azernews reports.

"We fully support the steps taken toward removing the ADB Charter lending limitation and encourage further innovative financial instruments in line with the G-20 recommendations. We encourage the bank to prioritize development outcomes while maintaining lending volumes and incorporate a private sector perspective across its portfolio when deploying freed-up capital promptly.

Fourth, we praise the successful replenishment of the Asian Development Fund as a testament to the bank's commitment to sustainable development and poverty reduction in the region's most vulnerable nations. This initiative not only enhances our capacity to address current and future challenges but also underscores the bank's effective stewardship in directing aid where it is most needed.

Lastly, we commend the bank's efforts to engage more effectively with the private sector. We also suggest bold steps towards decentralization and the establishment of regional hubs as outlined in the New Operating Model. These hubs would enhance the in-the-field experience and know-how, enabling the bank to deliver faster and more tailored support to its DMCs. While the New Operating Model has facilitated key organizational changes, implementing the decentralization component will further position the bank to be more responsive and effective.

In concluding, I would like to emphasize Turkiye's appreciation for the tremendous effort put forth by ADB's Management and staff, committed to the prosperity of the Asia and Pacific region.

As always, Turkiye looks forward to continuing our strong cooperation with ADB, supporting its endeavors to foster sustainable development across our region," he said.

The theme for the 57th Annual Meeting to be held from May 2 through May 5 is “Bridge to the Future.”

The Annual Meeting is an opportunity for ADB governors to consider development issues and challenges facing Asia and the Pacific. Several thousand participants, including finance ministers, central bank governors, senior government officials, members of the private sector, representatives of international organizations and civil society organizations, youth, academia, and the media, regularly join the meeting.

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