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May 15, 2008
Madrid, Spain – On Tuesday May 6, 2008, the Honorable Jack J. Ading, RMI Minister of Finance, met with the President of the Asian Development Bank, Mr. Haruhiko Kuroda, during the 41st annual ADB meeting held in Madrid, Spain.
Minister Ading led the RMI delegation, which included the Secretary of Finance, Mr. Jefferson Barton.
The highlights of the four-day meeting include bilateral discussions between the RMI and the ADB, the meeting of the Board of Governors, and various other consultations.
In a private meeting with the ADB President, Minister Ading raised several pressing issues that ultimately set the tone for the overall discussions. The issues include how the increase in the global price of food and fuel is affecting the RMI. The Minister mentioned that the continued price increase create a food and health crisis for the people of the Marshall Islands, and will also threaten government services. The Minister asked that the ADB provide any technical expertise to help alleviate this burden.
Another issue the Minister raised was on Climate Change. The Minister expressed the RMI’s contention that Climate Change is a real issue and is constantly threatening our national security. The RMI lacks the human capacity or technical expertise to fully deal with this climate phenomenon, thus urging the ADB to accelerate the necessary support in assisting in the further development our capacity to mitigate any circumstances that will come about from Climate Change.
One other issue the Minister raised was the introduction of practical policy initiatives that aims to foster private sector development. The Minister referenced several new initiatives taking place in the Marshall Islands, which has created several hundreds of much-needed jobs. Knowing full well that the RMI still has to create even more jobs as more citizens enter the workforce each year, the Minister requested that the ADB assist by helping the RMI develop practical policy initiatives that will create jobs and also bolster the private sector. The Government strongly supports the notion that the Private Sector is the engine for development and growth.
“I was very pleased with my meeting with President Kuroda. I raised several issues that are pertinent to the RMI, and I am confident the ADB will properly address them” said Minister Ading.
Minister Ading also said “all 67 members of the Board of Governors echoed the RMI’s the three main issues of increased food and fuel prices, Climate Change, and Private Sector Growth. Decisive action must be undertaken given the magnitude and how wide-spread these issues have become. It is my sincere hope that the ADB will meet its obligation and start shifting its policies to address these very important issues.”
In addition, Minister Ading chaired the Donor Consultation on Food Security and Sustainable Livelihoods in Pacific Island Countries on behalf of the Minister of Resources and Development, the Honorable Fredrick Muller, who could not attend the meeting due to prior commitments.
RMI Embassy Washington D.C
Download: Statement by Minister Ading
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