China urges ADB to increase rescue aid to developing members

(Xinhua)
Updated: 2009-05-04 20:09

BALI - Chinese Finance Minister Xie Xuren on Monday called on the Asia Development Bank (ADB) to increase its assistance to developing members to enhance their ability to combat financial crisis.

"The most demanding task at present for the developing members in the region is to address the financial crisis," said Xie at ADB's 42nd Annual Meeting of the Board of Governors, which opened here Monday.

The ADB should expand the assistance scale, accelerate the disbursement process, meet the demand of the developing members on emergent liquidity in trade and investment, he said.

The minister said that the regional bank should also increase support to developing members in agriculture, education, health and other sectors.

He also called on the ADB to further streamline the operational procedure, reduce the operational cost and deliver more quality services with low cost to its developing members.

To help the developing members, the ADB should first promote its own development through internal reform, he said.

"All members should take quick actions, show political sincerity, effectively increase the voice and representation of the developing members in the ADB and promote the development of a fair, just, inclusive and well-managed international order," said Xie.

Founded in 1966, Manila-based ADB has 67 members, including China.