Haruhiko Kuroda, president of the ADB The future of Asia and the future of the ADB will be on the agenda at Istanbul. Asia is developing and integrating relatively quickly, but at the same time it has two-thirds of the world's poor. Growth and integration will continue, but there are a lot of challenges. This will be the one big topic of discussion for governors and officials.
As for the ADB, we need to continually adapt to respond to the changing needs of our developing member countries. We also need to sustain our internal reform agenda. For us the two things are very closely connected.
Also, since we are meeting in Istanbul, which lies between Asia and Europe, I hope that as many Europeans as possible will attend so that we can discuss economic cooperation between the two regions.
I have been to Ankara and Istanbul and met with the economy minister, the central bank governor and Turkey's governor for the ADB. All of them have promised me full support for the upcoming meeting.
Paul Speltz, US executive director, ADB
Since the Asian Development Bank's reform agenda was agreed upon nearly one year ago, there has been modest progress in its implementation. Much more needs to be done for ADB to be a more results-oriented organization at all levels, and one that is transparent, accountable to all its shareholders, and most importantly, effective at delivering its assistance.
On his first day in office, President Kuroda affirmed his strong commitment to make the ADB more relevant, effective and transparent. He has also made very clear to us that there is no place in ADB for those who engage in corrupt or fraudulent behaviour.
What I have seen from President Kuroda thus far gives me hope that he will ensure ADB rises to the challenge of reducing poverty in a region that is home to two-thirds of the world's poor. To achieve that goal will require a high degree of commitment and strong leadership.
The US will strongly support a more relevant and effective ADB. I am pleased to see the high degree of cooperation on the part of most shareholders in making ADB the most effective and relevant development institution in the region. This was in evidence recently when the ADB rapidly responded to the needs of the tsunami affected countries. I am optimistic that in the months and years ahead President Kuroda will make some significant and far-reaching changes to the Bank's operations that will guide the institution in the years to come.
AK Purwar, chairman, State Bank of India
The growth momentum in emerging Asia remains very strong, powered by robust growth in China and India. The key priority for governments, therefore, is to ensure the safety and soundness of the banking and financial system to support growth.
Growing integration of economies and the markets around the world is making global banking a reality. In emerging markets also there is greater liberalization and adoption of best international practices, which in turn has increased competition among banks and other players in the financial sector and ushered in far reaching changes in terms of markets, institutions, products and practices.
Technological advancements have made it possible to expand the frontiers of banking. Going forward, the first priority for banks in the region will remain leveraging technology to build better risk assessment systems. With better risk assessment capabilities, particularly against the background of the new Basel II prescriptions, banks will be able to manage large volumes across diverse terrains and different time zones.
This will help improve profits, better loan recovery and cost management. As central banks move away from micro prescription to risk based supervision, sound corporate governance practices will be another priority for banks.
As banks in emerging Asia become more integrated with international markets and move towards greater convergence with global standards, the challenge will be to strengthen cross-border supervision and increase co-ordination among different regulators both within the country and also globally.
At the same time, in the interest of financial stability, it is necessary to allow for country-specific adaptations of rules. Overall, we see far-reaching changes in the banking and financial sector, marked by competition, consolidation and convergence.
Gazi Ercel, former Turkish central bank governor
I strongly believe that since its establishment in 1966, the Asian Development Bank has been successful in reducing poverty and promoting economic development in Asia and the Pacific. In particular, it has also made progress in the areas of human resources development and environment protection.
In this regard, after the tsunami in December 2004, ADB has to continue working closely with governments and the private sector to meet the urgent needs for physical infrastructure in this area. ADB should coordinate efforts to meet the need for rebuilding infrastructure in the countries of the region badly hit by the tsunami.
I believe this is the precondition for sustainable economic growth and a necessary condition for poverty reduction in this region. In my view, during the annual meeting in Istanbul, the top item on the agenda, which the governors and delegates should discuss, is encouraging the ADB to extend its activities for supplying more loans to these countries.
Noritada Morita, chairman, Asia Strategy Forum
There are many ways Asia can contribute to the world's welfare. Global warming, the issue of the century, is one area. It is affecting growth and development and has begun to signal a threat to mankind. It was an auspicious step of the first Greater Mekong Sub-region (GMS) summit and Asean+3 meeting held in Phnom Penh in November 2003 to declare its commitment to the ratification of the Kyoto Protocol. It was an example of Asia's character – working together for the betterment of humanity.
The renewed initiative recently taken by the Indian and Thai leadership to connect the subcontinent with the GMS region will lend a strong hand in support of Asia's development. Once these two important sub-regions are better linked, it will help enhance Asia's resolve to address the issues of global warming while uplifting its international economic role.
Introducing a regional institutional arrangement to deal with environmental policies as well as to assist Asia in strengthening dialogue at all levels is desirable. The task of executing necessary programmes could also be entrusted to it.
Focused and well-coordinated actions against global warming should form an important part of the Asian community's development agenda. If carried out with proper arrangement at sub-regional and inter-subregional levels, these programmes' effectiveness and sustainability will be ensured. The role that Asia, together with ADB, can assume to tackle this issue is enormous.