ADB aims to mprove life standard of 330m people of Asia
Asian Development Bank (ADB) President Takehiko Nakao has said to improve the living standard of 330 million people of Asia living under the absolute poverty line is the major goal and objective of ADB.
During his talks with over 400 journalists looking after the economic beat gathered in an International Convention Venue based at Yokohama to collect news about the golden jubilee celebrations of the ADB, Mr Nakao said to build a prosperous Asia through collective efforts was the ADB goal.
Stating that Asia needs 170 billion dollar annually to develop transport, communications and energy infrastructure, the bases required for making the region economically prosperous, he said, "The ADB is committed to meeting this goal."
Nations-to-nation partnership and cooperation along with the guarantee of sustainable development and inclusive economic growth are essential to meet the goal for prosperity, according to the ADB President.
Giving his logic that impact of urbanization had posed a challenge to clean environment, he said the green urban development was the ADB priority.
He was of the view that expansion of regional cooperation, trade diversification and integration were essential factors for the prosperity of Asia and the goal could be achieved through partnership, cooperation and coordination among the member states.
The ADB head further reiterated its commitment to be always with its member states to support in efforts aimed at fighting against climate change impact, maintaining environment balance, achieving social security and sustainable development goals.
On the occasion, he took time to share the information that the ADB was providing loan assistance up to 70 per cent to its member state in the sector of infrastructure development and the bank had sufficient capital to invest in this sector.
He commented that the One Belt: One Road (OBOR), an ambitious project forwarded by China was an effective means of developing connectivity in Eurasia therefore, the countries having less population should rethink on its feasibility.
He further said that the wind, solar, hydro and other renewable energies were the priority of the bank as it was focusing on clean energy promotion to solve the energy crisis in its member states.
To a query regarding hiking defense expenditure cutting from developmental budget by some Asian countries due to the rising tension in Korean peninsula, he thought the issue would be resolved soon contributing to establishing a peaceful and prosperous Asia.
Meanwhile, the Bank told RSS about its three projects to be effective in Nepal, namely the urban development, drinking water supply and sanitation and river improvement.
The bank is going to run a regional urban development project at a total cost of 147 million US dollar this year. Similarly, the bank will run Bagmati River Banks Reform Project at a total cost of 40 million US dollar next year.
Likewise, ADB will begin next project entitled the Second Kathmandu Valley Drinking Water Improvement Project at a total cost of 185 US dollar in 2019.
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Job and Career Fair kicks off
The Job and Career Fair that aims to provide job opportunities for youths started here Friday. Minister for Labor and Employment Farmullha Mansoor inaugurated the two-day fair amid a program at the Nepal Police Club Friday. The expo is organized by the Adhikari Creative Concern.
NCEA's general assembly picks new working committee
The 12th General Assembly of the Nepal Carpet Exporters' Association held Friday in the capital has unanimously chosen an 18-member new working committee. Ram Bahadur Gurung has been elected President while Dipak Bajracharya senior Vice President.
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The Doklam dilemma
Being a buffer state between the two giant neighbors, Nepal should conduct its foreign policy vis-à-vis China and India in a very sensitive manner. Nepal has always maintained that it would not allow its soil to be used against any neighbor. At the same time, Nepal should make sure that its own national interests are never compromised.
Gaurab Shumsher Thapa
Effect of monetary policy on risk, stability and financial crises
The crisis of 2008–09 has reignited a new interest in understanding money and credit fluctuations in the macro economy, and the crucial roles they could play in the amplification, propagation, and generation of shocks both in normal times and, even more so, in times of financial distress. This may reopen a number of fundamental fault lines in modern macroeconomic thinking between theories that treat the financial system as irrelevant, or, at least, not central to the understanding of economic outcomes, and those that reserve a central role for financial intermediation.
The return trip
It took us over five hours, drenched in rain, walking through treacherous ratomato sluggishly. It should not have taken more than two hours in a normal day. It was the cruellest irony that no sooner did we reach Panchkhal and sat at the Pipal Chautari to rest, than the bus we had left behind, arrived with people in the bus bursting with laughter on seeing us.
Prospects for Nepali talents in the Diaspora
When Indu, a Nepali American teen studying in Virginia, asked Panta whether she could inspire Nepali youngsters into music industry and convince their parents to consider Nepali music as a path to professionalism, the female heartthrob of Nepali music could not fully convince her.
Traffic Police in Kathmandu
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Menstrual taboo outdated
I have seen my sisters and friends isolated and treated in discriminatory manner during their first menstruation cycle. They were not allowed to look at the sun, to touch water source, flower, fruits, any male family member, nor even hear their voice. The activist may claim the situation has changed and I do agree but still during every month my loved ones turns into untouchables beings.