President Park Geun-hye met with President Nakao Takehiko (中尾武彦) of the Asian Development Bank (ADB) at Cheong Wa Dae on May 26 to discuss ways to further develop cooperative relations between Korea and the ADB.

During the meeting, President Park praised the 50 years of close partnership between Korea and the bank, and then called for more efforts to be made for the sake of growth and stability across Asia.

Amid growing investment in infrastructure, education and healthcare across Northeast Asia, Korea and the bank should join forces on such projects, she stressed.

Citing Korea as, “one of the ADB’s crucial partners,” Nakao expressed his gratitude to the nation not only for establishing an “e-Asia Fund” and a “Knowledge Partnership Fund” back in 2006, but also for having since invested USD 56 million in the funds. The funds help make it possible for ADB member states to share knowledge with each other and to narrow the digital gap.



President Park also noted how the bank has been accredited as an implementing entity of the Green Climate Fund (GCF), a first among other multilateral development banks. She continued to emphasize the need to step up cooperation between Korea and the bank to reduce carbon emissions and to jointly confront climate change.

In addition, both sides exchanged their views on a wide range of issues, including how to help Korean financial experts make inroads at the bank and how to help Korean companies join the series of ongoing infrastructure projects in which the bank has invested.

By Sohn JiAe
Korea.net Staff Writer
Photos: Cheong Wa Dae
jiae5853@korea.kr