28 May 2012: The Asian Development Bank (ADB) has announced that it has agreed a new Country Partnership Strategy (CPS) with the Government of China, focused on ADB’s support for innovative projects promoting a less carbon-intensive economy and addressing poverty, rising income inequality, and widening regional disparities.

According to ADB, the Strategy will focus on the following sectors: natural resources and agriculture; low carbon and renewable energy; transport; and urban development. It is built on three pillars, namely: inclusive growth; environmentally sustainable growth; and regional cooperation and integration. Lending and technical assistance under the CPS will be centered around new technology, green or social development, and enhanced synergies with regional cooperation and integration programmes.

ADB also has committed its continued support to microfinance, small and medium-sized enterprise (SME) finance, green finance and municipal finance. [ADB Press Release]