Press Release.............................. UNESCAP News Services

Date 16 May 2004
Press Release No: N/14/2004

ADB AND UNESCAP SIGN MOU ON FUTURE COOPERATION

Jeju Island, Republic of Korea (UN Information Services) -- Mr. Tadao Chino, President of the Asian Development Bank, and Mr. Kim Hak-Su, Executive Secretary of the United Nations Economic and Social Commission for Asia and the Pacific, today signed a new Memorandum of Understanding on future cooperation by the two regional organizations.

The MOU, signed at the ADB's 37th Annual Meeting, follows-up on commitments made by ADB and UNESCAP at the International Conference on Financing for Development held in Monterrey, Mexico, and the World Summit on Sustainable Development held in Johannesburg, South Africa. It also reflects the commitment of each organization to support achievement in Asia and the Pacific of the Millennium Development Goals.

President Chino expressed satisfaction that the new agreement emphasized regional cooperation and poverty reduction. "Two thirds of the world's poor live in the Asia and the Pacific region and it is essential that the two major regional organizations work together to achieve the first Millennium Development Goal of reducing poverty by half by the year 2015," he said. "This new MOU will be a model for regional cooperation in the 21st century in accord with the true spirit of Monterrey and Johannesburg."

Executive Secretary Kim expressed enthusiasm for results-oriented content of the new agreement. "Given the magnitude of the development challenges faced in the Asia and Pacific region, regional organizations must work together and focus on results," he said. "It is essential that these two major organizations in Asia and the Pacific lead the way in producing results for the benefit of the people in the region."

The agreement ends in 2015, which is also the target date for achievement of the Millennium Development Goals. There will be a joint mid-term evaluation of the results achieved, officials said.

For more information, contact:
Mr. David Lazarus
Chief, United Nations Information Services
UNESCAP, United Nations Building
Bangkok, Thailand
Tel. +66(0)2288 1866-69
Fax: +66(0)2288 1052
Email: unisbkk.unescap@un.org

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