ADB- for developing nations

Poverty, inequality still an issue in developing nations

By Alexander Villafania

         PASAY CITY, METRO MANIL A—Despite improvements to alleviate poverty in developing nations in the Asia Pacific region, a lot of work still has to be done to achieve growth and equality.

       “The region still faces significant long-term challenges, high among these is the issue of rising inequality,” said Asian Development Bank (ADB) President Haruhiko Kuroda during the fourth Annual Meeting of the Board of Governors.

         Unfortunately, while the region has made remarkable progress in reducing poverty, the benefits of growth have yet to reach hundreds of millions of Asians who continue to struggle on less than $1.25 a day,” said Kuroda.

          He added that the very drivers of Asia’s economic success–new technology, globalization and market-oriented reforms–have also served to create and increase disparities within and among Asian economies.
 
           A previous report by the ADB already indicated the rising tide of poverty and inequality in the Asia Pacific region.

           Income division among Asians is widening as the richest one percent account for six percent to eight percent of a country's total income. Meanwhile, the income among the rich continues to increase over time.

            Such is the need of certain developing countries that ADB is securing $12 billion for its Asian Development Fund (ADF) to be used for social projects in recipient countries.

           Kuroda stressed that the ADB is pushing for better governance among Asia Pacific countries.
Areas in need of better government policies include education, infrastructure, and employment generating sectors. These policies will be targeted at resolving inequality by giving people an opportunity to become financially capable, and is collectively called “inclusive growth.”

            Incidentally, the ADB host country the Philippines has chosen “inclusive growth” as a theme for this meeting, reflecting on the program of President Benigno Aquino III that seeks to commit to a goal of economic growth.

           The trudge to solving poverty may be a long shot but Kuroda said that he is optimistic that countries in the Asia Pacific region are able to maintain their growth prospects in the long term.
The ongoing ADB Annual Meeting of the Board of Governors is the first such event to be held in the Philippines in 12 years.

--taken from http://ph.news.yahoo.com/poverty-inequality-still-issue-developing-nations-082615584.html

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                The Philippines is clearly one of the developing nations mentioned above. Its signs of poverty are evidently seen everywhere-from the citizens to the residences and to the infrastructures. Although the ADB has already greatly helped our country in so many ways, it is still not enough to drive poverty out. Majority of the citizens are still hungry, homeless, and hopeless. 

            This year, as the ADB Annual Meeting of the Board of Governors will be held here in the Philippines, I hope this event can change the turn of events not only for the Philippines but also for all the developing nations; so, that there won’t any developing nations in the future anymore but all newly industrialized nations. This meeting must successfully address the causes of poverty and take immediate action afterwards. As leaders of nations, they must put aside their selfish desires and work together. Regardless of race, gender, wealth, or language, each one must think for the betterment of everyone.

            Since the major problems they will be addressing is poverty and inequality, it concerns the nation’s economy. They must carefully evaluate their data so that they can make the right decisions for short-term and long-term projects. They must also take note that the poor are the ones suffering, so they must start and focus there. The rich don’t need help for they have more than enough already while the poor have less than enough. The wealth in each nation must be distributed fairly to create harmony and equality, because this has been one of the major problems faced by developing countries. 

            If we must act, act NOW. This meeting has been going on for 12 years now but still, little has changed. As the citizens of these developing countries, WE must take immediate actions and support the projects implemented because we can’t depend everything on the government and on the ones in power, WE ourselves must do the work to accomplish these goals because these projects are mainly for OUR benefit.