Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

NGOs upset over outcome of meeting

  • The Jakarta Post

Nusa Dua, Bali   /   Thu, May 7 2009   /  09:20 am

NGOs have expressed disappointment in the result of the Asian Development Bank's (ADB) 42nd annual meeting, saying it did not do enough to reduce poverty or mitigate climate change. "No solutions to the financialor climate crisis have been placed on the table," Red Constantino, executive director of the NGO Forum on the ADB, said in a statement Tuesday. "It began with calls that business-as-usual is no longer acceptable. Ironically, the proposals remain just that - recycled approaches that did not work in the past and which can only exacerbate the region's problems at present." The meeting ended Tuesday, with Asian countries agreeing to triple the ADB's capital from US$165 billion to cushion the impact of the crisis.The group said it was "a cynical attempt by the ADB to use the current crisis to re-promote discredited large-scale infrastructure-biased development". "T...