Timor-Leste and ADB begin new milestone in regional cooperation
The Government and the Asian Development Bank (ADB) marked the start of a new phase of cooperation after the transfer of ADB operations in Timor-Leste to the Department of the Southeast Asian region, from the Pacific Region Department. This transfer, held at the request of the Government, entered into force on the 1st of October 2019.
To mark the transition, the Prime Minister, Taur Matan Ruak and members of the Government gathered on October 11 with an ADB team, led by the General Director for Southeast Asia, Ramesh Subramaniam, to discuss the strengthening of the relationship between Timor-Leste and ADB.
The meeting was attended by the Acting Minister of Finance and Governor of the ADB, Sara Lobo Brites, the Minister of Foreign Affairs and Cooperation, Dionísio da Costa Babo Soares and the Minister of Public Works, Salvador Soares dos Reis Pires. The ADB delegation included the Acting Executive Director of ADB in Timor-Leste, Shahid Mahmood, and the new ADB resident director in Timor-Leste, Sunil Mitra.
The Minister of Foreign Affairs and Cooperation thanked the partnership with ADB and expressed the willingness to deepen the long-term joint cooperation.
Sara Lobo Brites said that Timor-Leste is eager to expand its cooperation with ADB and other Southeast Asian countries. "The partnership between ADB and Timor-Leste promises to be fruitful”, she said.
The Acting Minister of Finance added that "the bank has been a reliable and responsive partner in resource mobilization and technical support throughout Asia and we hope that our joint work will help improve the quality of life of our people”.
The ADB delegation included officials from ADB for Southeast Asia and heads of transport, energy, agriculture and urban and water services, as well as regional cooperation and integration.
Subramaniam stated that the “ADB is committed to supporting Timor-Leste in achieving its development goals”.
"We are pleased to help the country improve its connectivity and deepen its ties with the rest of Southeast Asia. With abundant natural resources, a young and dynamic population and a strategic location in Southeast Asia, Timor-Leste can build a strong and resilient economy that can benefit its people in the coming generations”, noted the General Director of ADB for Southeast Asia.
The ADB delegation informed the Government of the work undertaken by the bank in Timor-Leste, in the member countries of the Association of Southeast Asian Nations (ASEAN-Association of Southeast Asian Nations) and on the status of a memorandum of understanding signed in May 2019 by the Ministries of Finance of Timor-Leste and Indonesia and ADB, which aims to strengthen regional cooperation and integration. ADB is working with both countries to reduce barriers to cross-border land and air transport and to simplify border management procedures. Through this memorandum, Timor-Leste is also working with Indonesia to boost tourism and livestock trade in the cross-border region.
The ADB, founded in 1966, is comprised of 68 member countries, of which 49 are Asian and is committed to achieving a prosperous, inclusive, resilient and sustainable Asia and Pacific region while maintaining its efforts to eradicate extreme poverty. In 2018, it undertook commitments for new loans and donations worth US $ 21.6 billion.
