The Asian Development Bank's (ADB) Board of Directors has endorsed a new country partnership strategy with China for 2016-2020, according to the bank's statement released on Tuesday.
Under the new strategy, various aspects will be emphasized, including the lender- borrower relationship for the public and private sectors, knowledge partnership, collaboration in promoting regional and South-South cooperation, according to the statement.
ADB's sovereign lending to China averaged 1.51 billion U.S. dollars every year between 2011 and 2015. This is expected to increase during the new five-year period, in line with the envisaged increase in the overall volume of ADB operations in Asia and the Pacific toward 2020, the statement said.
According to the statement, ADB will step up its support to China's regional cooperation and integration efforts, focus on China's inclusiveness development by paying special attention to the remaining poor, and offer help to the country's sustainable development, especially the private sector-led solutions to environmental problems and climate change, in the coming five years.
