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The Asia Development Bank is tasked with fighting poverty and assisting developing countries/economies throughout Asia. It was founded in 1966 and is financed by 67 member countries. It partners with governments, private sector and non-governmental players to carry out its mission.
"Although most lending is in the public sector - and to governments - ADB also provides direct assistance to private enterprises of developing countries through equity investments, guarantees, and loans. In addition, its triple-A credit rating helps mobilize funds for development."
In 2008 it made $10.8 Billion in loans and more than $811 Million in grants.
Several months ago it published an extensive and comprehensive report: "The Economics of Climate Change in Southeast Asia: A Regional Review".
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The ADB's Current Management Team
The ADB's CEO is Mr. Haruhiko Kuroda. Here's an excerpt from his biography:
In a career spanning nearly four decades, Mr. Kuroda has represented Japan's Ministry of Finance at a number of international monetary conferences as Vice Minister of Finance for International Affairs.
During his terms as Director-General of the International Bureau and as Vice Minister of Finance between 1997 and 2003, Mr. Kuroda helped design and implement the US$30 billion Miyazawa Initiative – Japan's response to Asian economies hit by the 1997-1998 financial crisis.
Under his leadership, Japan helped Asian nations establish the Chiang Mai Initiative, a network of currency swap agreements designed to avert another crisis.
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Vice-President, Operations 1: Mr. Xiaoyu Zhao. An excerpt from his bio:
"Prior to joining ADB, Mr. Zhao was the Deputy Governor of the Export-Import Bank of China, where he was the chairperson for both the Assets and Liability Management Committee and the Centralized Procurement Evaluation Committee.
Mr. Zhao served as the Director-General for the International Department of the Ministry of Finance of the People's Republic of China (PRC) from 2002 to 2004.
He was ADB's Executive Director for PRC from March 1999 to September 2002, and the World Bank's Alternate Executive Director for PRC from January 1997 to February 1999.
A Chinese national, Mr. Zhao holds an M. A. degree in Economics from George Washington University, and a B. A. degree in Western Language and Literature at Peking University."
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Vice-President, Operations 2, career diplomat, Mr. C. Lawrence Greenwood, Jr.:
"In November 2004, led the US Government delegation to the Paris Club that successfully restructured $125 billion of Iraqi debt, resulting in the largest debt reduction in history.
From 2003-2005, helped coordinate donor activities in a number of post-conflict and post-disaster situations, including Iraq, Haiti, and Pakistan.
In 2001 helped launch a dialogue on structural reform between China's National Development and Reform Commission and the US Department of State and led the investment agenda for that Dialogue.
From 2000-2005 chaired the US-Japan Investment Initiative which worked to promote foreign direct investment into Japan and to reform Japanese regulations to facilitate mergers and acquisition. . . ."
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The entire management team is similarly credentialed.
There are likely some in their number who enjoy a cafe latte or listen to U2, but no group of communal-living hippies are these. These are Bankers.
And the Bankers say this about the economics of climate change in Southeast Asia:
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"Climate change is likely to be one of the most significant development challenges in Southeast Asia in the 21st Century. . . Climate change, if not addressed adequately, could seriously hinder the region's sustainable development and poverty eradication efforts. Climate change is already affecting the region . . . ."
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"Southeast Asia's average temperature has increased at a rate of 0.1-0.3C per decade and sea level has risen 1-3mm each year over the past 50 years or so. The region also experienced a downward trend in precipitation from 1960-2000. . . Climate change is worsening water shortages; constraining agricultural production and threatening food security; and causing forest fires, coastal degradation, and greater health risks. . . ."
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"Southeast Asia contributed 12% of the world's total greenhouse gas (GHG) emissions in 2000, an increase of 27% over 1990, twice as fast as the global average rate of increase. . . As the largest source of emissions, the region's forestry sector holds the key to success of mitigation efforts, and has great potential to sequester carbon through reduced emissions through deforestation and degradation (REDD), aforestation and reforestation, and forest management."
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The foregoing excerpts don't even begin to adequately summarize the report. Rather, they are offered only to give the reader a small taste of the tone and tenor of the report. It is science-laden, as well.
I invite you to go to the whole report, then click on the chapter links. Send this to your Limbot and Hannitoid friends next time they brush off climate change as just some "liberal conspiracy". Of course, this won't change their minds, but it'll add one more stone in the basket of reality they carry, but which they refuse to acknowledge even exists.
BenGoshi
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