Jaitley asks ADB to set up a regional hub in New Delhi for South Asia

07 May, New Delhi

Union Finance Minister Arun Jaitley Sunday asked the Asian Development Bank (ADB) to set up a regional hub in New Delhi for the South Asia region to meet growing aspirations of the people.

The Finance Minister, who is on a three-day official visit to Japan to participate in the annual meeting of Board of Governors’ of Asian Development Bank (ADB), congratulated the bank on completing 50 years and serving the people of the Asia-Pacific region.

Lauding the efforts of the bank in eliminating poverty in the region through development of physical and social infrastructure, Mr Jaitley called for a greater focus on renewable energy keeping in view our commitment to tackle climate change.

In urban development, especially in the sectors of drinking water and sanitation, Mr Jaitley underlined the major challenges faced by many developing countries in making the system work without having to depend much on the budgetary support from the national governments.

He urged the bank to promote sustainable models that will address these challenges and called upon ADB to focus on climate resilient agriculture, better farm production technologies, improved value chain management and creation of better marketing infrastructure for farm produce.

During his visit, the Finance Minister is being accompanied by Shaktikanta Das, Secretary, Department of Economic Affairs (DEA) and senior officials of his ministry, an official statement here said.