ADB head vows support for Phl energy sector

MANILA, Philippines - Asian Development Bank (ADB) president Haruhiko Kuroda said the multilateral donor agency would continue to be involved in the development of the Philippines’ energy sector.

In a press conference at the close of the 45th Annual Meeting of the ADB Board of Governors yesterday, Kuroda said the ADB will work with the country’s energy sector, both private and government sides.

“The Philippine power sector has been struggling for many years and power supply and pricing is a big challenge. It has a very diversified structure,” he said.

The ADB has been involved in the country’s power sector, from research, study, policy-formation, policy implementation, including funding for power generation to the compact fluorescent lamps (CFLs).

Its involvement in the power sector spans not only the Philippines but in most other developing Asian nations.

Meanwhile, Kuroda said the reported cases of corruption and bad governance in the proper utilization of multilateral and bilateral assistance must be reduced.

“Corruption and bad governance had been a major obstacle to eradicate poverty at a faster pace. Many governments recognize that corruption must be avoided and governance must be improved,” he added.

The ADB president zeroed in on the Philippine government on the issue of corruption and governance.

“The Philippines has put anti-corruption and governance at the forefront of poverty reduction efforts,” he said.

Meanwhile, the 45th annual meeting gathered a record 5,000 participants, including 579 international and domestic media persons and 450 civil society organizations.

The next ADB meeting will be held in India next year.