Nakao Vows To Boost Private Sector In Bid For ADB Top Post

TOKYO (NQN)--Vice Finance Minister Takehiko Nakao, the government's nominee to replace Haruhiko Kuroda as president of the Asian Development Bank, said Thursday the bank should work to strengthen the private sector in Asia, in his vision statement released the same day.

"Asia has achieved remarkable growth and poverty-reduction in recent years and is now regarded as an engine of global growth. Still, there remain developmental challenges," he said in the statement.

"The ADB should enhance its operations in private-sector development. I will ensure that the ADB is backed by sufficient financial resources to meet the needs of member countries."

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