Asian Development Bank to help Pacific region weather crisis
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Manila - The Asian Development Bank said Tuesday it has approved a 3.5-million-dollar technical assistance grant to help the Pacific region weather the impacts of the global economic crisis. The Manila-based ADB said the grant aims to improve economic management in the region. It will fund the development of the Pacific Economic Monitor that will compile data and economic analysis of the global impact of the economic crisis. "The technical assistance provides for ADB's contribution to a joint effort by development partners to help the Pacific lessen the effects of the global crisis through improved economic monitoring and policy analysis," ADB economist Craig Sugden said. "The project aims to generate longer-term benefits by helping the Pacific region develop their systems and processes for economic management," he added.
Copyright DPA
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