Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Asian Development Bank Appointment


Asian Development Bank Appointment


Richard Stanley has been appointed Alternate Executive Director of the Asian Development Bank, Finance Minister Michael Cullen announced today.

"Richard has a wealth of experience that equips him ideally for the task. I'm confident he will serve New Zealand and the rest of the Bank constituency well," Dr Cullen said.

Mr Stanley, previously a business manager with the Bank of New Zealand in Auckland, has a strong professional and academic background in development banking in the Pacific Islands.

"This position is significant as it allows New Zealand to have a real say in the Bank's work and the Bank lends billions of dollars every year throughout Asia and the Pacific. It also allows us to work very closely with Indonesia, the largest borrower from the Bank," Dr Cullen said.

"Mr Stanley takes up his position at a crucial time. The next several years must see progress in following up the Monterrey Conference on financing for development and the World Summit on Sustainable Development. The Bank will be working hard on the intermediate steps to help its member countries reach the Millennium Development Goals by 2015.

"This is a huge challenge, but also an unprecedented opportunity, for New Zealand and the Bank to work together with our developing country partners in the best interests of eliminating poverty in our region.

"His role on the Board is to represent the views of a constituency of Asian Development Bank countries including New Zealand, the Cook Islands, Fiji, Indonesia, the Kyrgyz Republic, Tonga and Samoa. He will have the full support of the Treasury and the New Zealand Agency for International Development in this endeavour.

"Mr Stanley succeeds the New Zealand incumbent, Mr John Austin, who has held the job for the last six years" Dr Cullen said.

The appointment was formally made by Dr Jusuf Anwar, the Executive Director from Indonesia representing New Zealand on the 12-seat Board of the Bank, on Dr Cullen's recommendation.

BACKGROUND ON NEW ZEALAND AND THE ASIAN DEVELOPMENT BANK

New Zealand was a founding member of the Asian Development Bank in 1966 and is currently the 10th largest shareholder in the Bank among its regional members. New Zealand also contributes through its Official Development Assistance programme to the Bank's concessionary financing facility, the Asian Development Fund.

In 2001, Asian Development Bank provided loans totalling US$ 5.3 billion to developing countries in Asia and the Pacific. Indonesia has been the largest borrower from the Bank, with a total of about US$ 18 billion at end 2000.

The Millennium Development Goals were agreed by all member governments at the United Nations in 2000. They aim to cut global poverty in half by 2015, and make significant progress in a range of social and environmental areas, and establish a global partnership for development covering trade, aid, and debt relief. The Monterrey and Sustainable Development conferences in 2002 addressed ways to finance that development, and put in place strategies to ensure that it is broadly sustainable.

The Treasury and New Zealand Agency for International Development (NZAID) are the shareholding partner and development partner respectively in relations with the Bank. NZAID was formed as a semi-autonomous agency within the Ministry of Foreign Affairs and Trade on 1 July 2002 and has a core focus on poverty elimination and the Pacific region.

The web site of the Bank is http:// http://www.adb.org

A fact sheet about New Zealand and the Asian Development Bank is at http://www.adb.org/Documents/Fact_Sheets/NZL.asp

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Supreme Court: Worksafe Decision On Whittall Pike River Prosecution Unlawful

The question in issue on the appeal was whether WorkSafe New Zealand acted to give effect to an unlawful agreement of this nature when it offered no evidence on charges against Peter William Whittall for breaches of the Health and Safety in Employment Act 1992...

The Supreme Court... has found that the decision to offer no evidence was made under an unlawful agreement to stifle prosecution. It has granted a declaration to that effect. More>>

 

Cullen To Chair: Tax Working Group Terms Of Reference Announced

Finance Minister Grant Robertson and Revenue Minister Stuart Nash today announced the Terms of Reference for the Tax Working Group and that the Group will be chaired by Sir Michael Cullen. More>>

ALSO:

Gordon Campbell: On The New Pike River Agency (And The Air Strike Wing)

Much of the sympathy the public still feels for the families of the Pike River miners has been sustained by the sense that the previous government – let alone the mining company and the processes of receivership and litigation – has never dealt honestly, or fairly, with them. More>>

ALSO:

Not Going Swimmingly: Contractor Cut, New Dates For Christchurch Sports Centre

“As an incoming Minister, I have been conducting a thorough review of progress on the Anchor projects and to learn of a $75 million budget blowout on this project was very disappointing..." More>>

ALSO:

Tertiary: Allowances, Loan Living Costs To Get Boost

“From 1 January, student allowance base rates and the maximum amount students can borrow for living costs will rise by a net $50 a week,” says Education Minister Chris Hipkins... further adjusted from 1 April 2018 in line with any increase in the CPI. More>>

ALSO:

Foreign Affairs: Patrick Gower Interviews Jacinda Ardern

Prime Minister Jacinda Ardern says discussions have already begun on how to bring climate change refugees into New Zealand under a Pacific seasonal employment plan... More>>

ALSO:

Gordon Campbell: On The Centre Right’s Love Of ‘Nanny State’

You’d almost think it was 2005 again. That was a time when the rugged individualists of the centre-right were being beset by government regulations on the nature of light-bulbs, the size of shower heads, the junk food available at school tuck shops and other such essentials... More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election