TNAG-1489-FCO40-2046-Hong-Kong-and-the-Asian-Development-Bank-1986 — Page 44

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We also note that the Bank is undertaking an internal review of its policies and strategies for the rest of the decade, and will be updating the 1982-83 task force study. We attach much importance to the consultation through the Board of Directors and look forward to contributing to this exercise later in the year. Without prejudice to the outcome of the review and the continuing discussions of Bank policy, I would like to mention a number of issues which we think should be covered. Spa046 Pigoloveb Jars ce

First, we support Management's efforts to achieve a policy dialogue with the borrowing countries based upon mutual confidence. We would urge the Bank to concentrate on priority projects which the central authorities of recipient countries have assessed carefully and can show meet real needs and are consistent with agreed sectoral and national strategies. Their economic policies generally will need to address the problems of mass poverty, creating employment, increasing exports and preventing further environmental degradation and excessive population growth.2300 and

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Second, we feel that greater emphasis should be given by the Bank to assisting member countries to make better use of existing productive capacities and improve the implementation of projects already underway, turk toget

Third, we are especially concerned that the Bank itself should pay the most rigorous attention to environmental and social issues in appraising requests and using its funds. There is a widespread and growing understanding, and consequent apprehension, among the public in my country and elsewhere about the links between certain types of development and climatic and other changes tending to destroy or degrade parts of the biosphere, where conservation is vital to the common heritage of mankind. We believe that natural resources can usually be used and managed in a way which balances the needs of development and conservation. But this requires sensitivity and care in these matters on a continuing basis in a way which guides all activities. For the most part such resources are controlled by sovereign national governments and their people; they also carry the chief responsibility for their custody and use. At the same time the Bank represents the wider international community, and we therefore have every right to expect that it will scrutinize all lending proposals to satisfy itself that their environmental and social impact have been thoroughly assessed, that measures have been agreed where necessary to deal properly with any adverse likely effects, and that progress will be adequately monitored by Bank staff as the project is put into effect. We are pleased