Asian Development Bank and Germany celebrate 50 years of cooperation
Press release of 15.02.2017 |
BERLIN – With the Asian Development Bank (ADB) and Germany celebrating 50 years of cooperation, Development State Secretary Hans-Joachim Fuchtel has called on the German private sector to play more of a role in future cooperation. The intention is that vocational training, the topic for the future, will become firmly established as an essential component of ADB infrastructure projects.
Hans-Joachim Fuchtel, Parliamentary State Secretary to the Federal Minister for Economic Cooperation and Development and also German Governor at the Asian Development Bank, said: "We want to launch pilot projects with the Asian Development Bank in which vocational training is an essential component of the tenders for infrastructure projects. With this initiative we are taking a step forward in helping people in developing countries and emerging economies in Asia find employment and earn a living. But that is not all: thanks to thorough training we will also create the foundations that will allow the poorest people to establish new business start-ups. These will not be just any kind of business, they will be in trades that are in short supply.”
Parliamentary State Secretary Fuchtel also drew attention to the immense demand for infrastructure in Asia. He pointed out that the fastest growing cities in the world lie in Asia, where almost half the world’s population currently lives. All these people need electricity, water and roads, he said. "However, the solution for sustainable, environmentally friendly development is not more public funding, it is more private investment,” Fuchtel added.
The ADB is already awarding procurement contracts worth 60 million US dollars to German companies each year – so that Germany is the forerunner in Europe as far as such contracts go. Together with the ADB, the Development Ministry is working to get even more companies to invest in environmentally friendly infrastructure like renewable energy.
The Agency for Business and Economic Development (Agentur für Wirtschaft und Entwicklung – AWE), which was founded in 2016 and which advises companies, chambers and associations about sustainable involvement in developing and emerging countries, signed a joint declaration of intent with the Asian Development Bank against the backdrop of the 50th anniversary celebrations. Together, the AWE and ADB will inform German companies about promotional and financing programmes for investments and getting involved in developing and emerging countries.
Germany is a founding member of the ADB and, with a holding of more than four per cent, its biggest European shareholder. In May 2016, Germany hosted the biggest annual meeting of the Asian Development Bank to date, with more than 4,200 participants attending the meeting and with "Cooperating for Sustainability" as the theme.
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- Press release 02.05.2016: ADB, Germany join forces on climate action, technical and vocational education and training
- Asian Development Bank (ADB)
- Issues: Vocational education and training
- Website of the Asian Development Bank (ADB) - external link, new window - Visit website
- The Agency for Business and Economic Development (in German) - external link, new window - Visit website