Protest rallies marks the ADB meeting
Hyderabad, May 3, 2006
Protests galore by civil society groups and trade unions marked the inauguration of the four-day 39th Annual meeting of the Board of Governors of the Asian Development Bank on Wednesday. Centre for Indian Trade Unions members, Workers and teachers, All India Insurance Employees Association and Confederation of Central Government Employees and Workers participated in the rally. A huge effigy representing the ADB was burnt near Indira Park. As the flames goes to the air, the agitators raised slogans against the World Bank and ADB.RS MLA, N.Narasimha Reddy, CITU State president, R.Sudha Bhaskar and General Secretary, S.Veeraiah addressed the rally. The three-day meeting is being attended by a fisherwoman from Thailand, Darwin and Chantarahesdee who was among protesters who aborted a meeting of ADB at Bangkok six years ago.
On Thursday, Union Finance Minister P.Chidambaram, Deputy Chairman of the Planning Commission Montek Singh Ahluwali and Chief Ministers of Delhi, Andhra Pradesh, Goa and Rajasthan and the finance minister of West Bengal will be showcasing opportunities in India for investors as part of the IBEF's 'Advantage India' campaign. The Asian Development Bank will be doubling its loan disbursals to India to $2.6 billions by 2008, said the Bank's president Haruhiko Kuroda on Wednesday.
Speaking to media on the first day of the meeting of the annual ADB, he said the new funding would be targeted at the transport, water, energy management and urban development sectors. He opined that India needed to develop better infrastructure and n devising strategies that would lead to the creation of jobs. The ADB is proposing to invest $1 billion in energy efficient technologies. Mr.Kuroda said that income disparities need to be reduced and there should be policies that will help in creating more jobs in the rural areas.
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