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TUESDAY, MAY 5, 1992
ADB SHOULD AIM TO PROVIDE A CLEANER ENVIRONMENT: SMA
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THE
SECRETARY FOR MONETARY AFFAIRS, MR DAVID NENDICK, SAID TODAY (TUESDAY) THAT IN THE INDUSTRIALISATION AND DEVELOPMENT PROCESS, IS IMPORTANT TO ADDRESS THE QUESTION OF POLLUTION RIGHT FROM THE BEGINNING, OTHERWISE DAMAGE TO THE ENVIRONMENT CAN BE VERY COSTLY OR SOMETIMES EVEN IMPOSSIBLE TO REMEDY.
SPEAKING AT A GOVERNORS SESSION OF THE 25TH ANNUAL MEETING OF THE ASIAN DEVELOPMENT BANK, MR NENDICK, IN HIS CAPACITY AS THE ALTERNATE GOVERNOR FOR HONG KONG, URGED THE BANK TO CONTINUE ITS EFFORTS TO ENSURE THAT DUE REGARD IS GIVEN TO MEASURES WHICH PRESERVE THE ENVIRONMENT.
"WE MUST NOT FORGET FUTURE GENERATIONS AND SHOULD AIM TO PROVIDE A CLEANER ENVIRONMENT AS PART OF OUR LEGACY TO POSTERITY, MR NENDICK SAID.
MR
TURNING TO THE ROLE OF PRIVATE SECTOR IN ECONOMIC GROWTH, NENDICK SAID IT HAD BEEN A COMMON EXPERIENCE THAT THE MOST DYNAMIC COMPONENT IN AN ECONOMY HAD BEEN ITS PRIVATE SECTOR.
"I THEREFORE WELCOME THE BANK'S ENCOURAGEMENT OF, AND SUPPORT FOR, POLICY ENVIRONMENTS WHICH ARE CONDUCIVE TO PRIVATE SECTOR INVESTMENT AND ACTIVITIES, HE SAID.
H
"AS A VETERAN ADVOCATE OF ENCOURAGING PRIVATE ENTERPRISE, I APPLAUD THIS POLICY INITIATIVE AND HOPE THAT WILL BE STRENGTHENED IN THIS AREA, HE SAID.
SECTOR EFFORTS
SOME OF
ON THE REDUCTION OF POVERTY, MR NENDICK SAID WHILE THE ECONOMIES IN THE REGION WERE ENJOYING THE FRUITS OF ECONOMIC SUCCESS, THEY MUST NOT LOSE SIGHT OF THE FACT THAT ASIA WAS STILL HOME TO THE LARGEST NUMBER OF THOSE WHO LIVE IN EXTREME POVERTY.
"EFFORTS TO STIMULATE ECONOMIC GROWTH CAN CERTAINLY HAVE AN INDIRECT POSITIVE EFFECT ON THE ALLEVIATION OF POVERTY THROUGH THE PROVISION OF JOBS AND ACCUMULATION OF WEALTH, HE SAID.
"HOWEVER, THIS IS NOT ENOUGH," HE SAID, ADDING THAT APPROPRIATE PROGRAMMES AIMED DIRECTLY AT THE REDUCTION OF POVERTY MUST BE ENCOURAGED TO HELP RAISE STANDARDS OF LIVING.
REGARDING THE FINAL REPORT OF THE TASK FORCE ON STRATEGIC PLANNING ISSUED IN LAST JUNE, MR NENDICK SAID IT HAD PROVIDED SOME USEFUL RECOMMENDATIONS WHICH THE BANK MANAGEMENT WAS PUTTING TOGETHER FOR IMPLEMENTATION.
"ONE
KEY AREA IS THE PROPOSED DEVELOPMENT OF A CONSOLIDATED FRAMEWORK FOR EACH BORROWING COUNTRY'S PROJECTS FOR THREE YEARS AHEAD, TO ENSURE THEIR COHERENCE WITH THE BANK'S OVERALL STRATEGIC OBJECTIVE.
/"IT WOULD