Building a more resilient economy

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20 May 2010

The Asian Development Bank (ADB) has held its 43rd Annual Meeting in Tashkent, Uzbekistan, at which the role of trade, infrastructure development and cooperation in post-crisis Asia were cited as vital to building a more resilient economy.

It is easy to say that Asia is recovering faster than other regions, but the recovery is patchy and not without potential risks. The role of a multilateral agency in this environment is important in that it can provide the link that channels investment capital into those areas that need it while shoring up the foundations of those areas that are once again growing.

Of all the regional development banks the ADB has the largest and most diverse geographic remit. It therefore faces the most diverse set of challenges. At the bank’s 43rd annual meeting in Tashkent, Uzbekistan, the talk was very much about how to ensure the economic recovery’s sustainability through further economic cohesion and physical integration.

Outlining his post-crisis development agenda for the region, ADB President Haruhiko Kuroda stressed the need to develop a more resilient economy. In 2009 the ADB’s operations expanded to a record...

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Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.

No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.

23%

No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.

23%

Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.

46%