DILI, TIMOR-LESTE – Timor-Leste has made significant progress in recent years in securing peace and stability and initiating a new development phase, and now needs to strengthen links with its neighbors, Asian Development Bank President (ADB) Haruhiko Kuroda told the 2011 Timor-Leste Development Partners Meeting here today.
“The longer term future of Timor-Leste lies in close integration with Asian economies. Such integration will help generate private sector-led economic growth needed to sustain development,” said Mr. Kuroda.
The Timor-Leste Development Partners Meeting is an annual gathering of the Timor-Leste Government, civil society, donors and private sector representatives looking at how best the nation can tackle economic development and other issues. At this year’s meeting, Timor-Leste Prime Minister Kay Rala Xanana Gusmao launched Timor-Leste’s Strategic Development Plan for 2011-2030.
During his address President Kuroda said that the rebalancing of economic activity toward regional and domestic demand and the emergence of a higher-spending middle class in Asia provide ideal conditions for Timor-Leste to look outward for new sources of economic growth. He urged Timor-Leste to continue investing in infrastructure and innovation, education, and regional cooperation initiatives to take advantage of this opportunity.
Since ADB began operations in Timor-Leste in 1999, it has received six grants from the Trust Fund for East Timor totaling $52.8 million, three Asian Development Fund (ADF) grants of a total $62.0 million, and 31 technical assistance (TA) funds worth $29.11 million. Currently, two ADF grants of $52.0 million and six TA projects worth $18.4 million are active.
http://beta.adb.org/news/president-kuroda-timor-leste-should-boost-integration-share-asias-success
“The longer term future of Timor-Leste lies in close integration with Asian economies. Such integration will help generate private sector-led economic growth needed to sustain development,” said Mr. Kuroda.
The Timor-Leste Development Partners Meeting is an annual gathering of the Timor-Leste Government, civil society, donors and private sector representatives looking at how best the nation can tackle economic development and other issues. At this year’s meeting, Timor-Leste Prime Minister Kay Rala Xanana Gusmao launched Timor-Leste’s Strategic Development Plan for 2011-2030.
During his address President Kuroda said that the rebalancing of economic activity toward regional and domestic demand and the emergence of a higher-spending middle class in Asia provide ideal conditions for Timor-Leste to look outward for new sources of economic growth. He urged Timor-Leste to continue investing in infrastructure and innovation, education, and regional cooperation initiatives to take advantage of this opportunity.
Since ADB began operations in Timor-Leste in 1999, it has received six grants from the Trust Fund for East Timor totaling $52.8 million, three Asian Development Fund (ADF) grants of a total $62.0 million, and 31 technical assistance (TA) funds worth $29.11 million. Currently, two ADF grants of $52.0 million and six TA projects worth $18.4 million are active.
http://beta.adb.org/news/president-kuroda-timor-leste-should-boost-integration-share-asias-success
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