Strong governance and constant vigilance against corruption are essential if Asia and the Pacific is to deliver the benefits of its economic boom to all, Asian Development Bank (ADB) President Haruhiko Kuroda told a forum Wednesday.
"Asia must embrace the principle of inclusive growth, bringing more people into the circle of opportunity that growth and development provides. Governance is key to this issue," Kuroda told participants during a keynote speech at the 14th International Anticorruption Conference in Bangkok, Thailand.
Asia is fast becoming the world’s leading economic powerhouse but many citizens are failing to benefit, with the region remaining home to two-thirds of the world’s poor. Corruption and weak governance results in fewer resources for infrastructure, education, health and other essential services, and low income groups inevitably suffer the most.
ADB recognizes that good governance and effective public institutions generate improved development outcomes. "Serious governance and corruption challenges remain globally, as well as in the Asia and Pacific region," says Kuroda. "This situation is not acceptable and needs to change."
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