PH urges ADB, WB: Stop duplicating roleshome/Business/Top Business/PH urges ADB, WB: Stop duplicating rolesMultilateral institutions Asian Development Bank (ADB) and the World Bank(WB) can weed out duplications in their functions and respond more effectively to the financing needs of the Asia-Pacific region if they closely coordinate efforts and explore complementarities. “From the point of view of the client, why do we have to deal with two bureaucracies for the same purposes?” Dominguez added. “So I’d like to suggest, especially on behalf of the smaller countries, that ADB and World Bank consider becoming more closely coordinated, and perhaps look for areas where they can cut their own internal costs in servicing the other needs of Asean,” he said. Nevertheless, he took the opportunity to thank the two multilateral lenders for helping the Philippines develop new reform policies and secure infrastructure financing support for its “Build, Build, Build” program. “Our engagement with ADB has been the most intense I think in the last 20 years; so with the World Bank,” he added.

Source: Manila Times April 09, 2019 16:18 UTC