Nations must continue to reform and reinvent themselves to achieve their missions - Nakao

The 52nd Asian Development Bank Annual Meeting is our opportunity to work as one wave for the future of Asia and the Pacific.

These were the words of the President of the Asian Development Bank, Takehiko Nakao while speaking at the opening of the Board of Governors meeting in Denarau, Nadi.

Nakao highlighted the phrase “dua ga na ua” which means as one wave that describes the way people move together in this day and age.

He says that there has been much discussion lately about the value of multilateralism adding that national interests and multilateralism go hand in hand because people need international cooperation and collective action for the interests of people in nation states and the world.

Nakao says that because multilateral development banks leverage taxpayers’ money by tapping capital markets, they can efficiently and effectively support poverty reduction, invest in infrastructure, address climate change, and provide other global and regional public goods.

He also stressed that nations must continue to reform and reinvent themselves to achieve their missions and ensure the support of ADB member countries and their taxpayers.

Nakao also highlighted how ADB has been supporting Fiji’s development since Fiji joined in 1970 adding that ADB has worked closely with Fiji through investments in transport, water supply and sanitation, disaster recovery, and public sector management.

He says that today, Fiji is growing steadily with a strong service sector and robust inward foreign direct investment.

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