ASIAN DEVELOPMENT BANK SIGNS POVERTY PARTNERSHIPS WITH MICRONESIA, MARSHALL

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MANILA, Philippines (June 28, 2002 - PINA Nius Online)---The Asian Development Bank (ADB) has signed Poverty Partnerships with the Federated States of Micronesia and the Republic of the Marshall Islands, it said in a news release.

Under the agreements, the bank and the governments will jointly prepare National Poverty Reduction Strategies by drawing on existing and forthcoming national development strategies.

This will be supplemented by community-based poverty consultation workshops.

The strategies will guide future Asian Development Bank assistance to the two countries, the news release said.

The Asian Development Bank said it regards poverty of opportunity with greater concern than poverty of income in the Pacific region.

Both governments wish to provide their people with basic education and other basic services to ensure an enhanced quality of life, it said.

The partnerships set out the understanding reached between the governments and the Asian Development Bank on the principles and processes by which the National Poverty Reduction Strategies will be developed and on the roles of the Asian Development Bank and the governments to this end.

The roles and commitments of the bank and the governments, and progress, will be monitored against the Millennium Development Goals and other critical poverty reduction indicators.

The Asian Development Bank expects to sign Poverty Partnerships with other Pacific developing member countries soon.

Pacific Islands News Association (PINA) Website: http://www.pinanius.org 

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