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This seminar, organized by ADB’s Independent Evaluation Department, brought together experts from ADB and other organizations to discuss their insights and approaches to ensuring that countries and regions in fragile and conflict-affected situations (FCAS) are not left behind in addressing the impacts of the climate crisis and the COVID-19 pandemic, and in achieving the Sustainable Development Goals (SDGs.)

Making progress toward achieving the SDGs while combating the impacts of the climate crisis and COVID-19 is not just challenging but also risky in FCAS. Development organizations need to rethink, intensify, and further differentiate their support and partnerships for FCAS. As countries move along the fragility-to-resilience spectrum, the humanitarian-development-peace nexus is crucial for addressing drivers of vulnerability before, during, and after crises.

The event was held on the sidelines of the 55th Annual Meeting of the ADB Board of Governors.

 

 

 

Source: Asian Development Bank

MANILA, PHILIPPINES— The Asian Development Bank (ADB) has approved a $40 million sector development program to strengthen the Kyrgyz Republic’s education system and boost the country’s innovation capacity and global competitiveness.

The School Education Reform Sector Development Program, which consists of a $20 million grant and a $20 million concessional loan, will help the Ministry of Education and Science (MES) undertake key institutional reforms in curricula design, teacher development, and management of school networks.

“Education is a key driver of poverty reduction and economic development,” said ADB Director General for Central and West Asia Yevgeniy Zhukov. “We are pleased to support this project which will improve learning outcomes of students in the Kyrgyz Republic.”

The program will support the government’s plan to shift to a new 12-year education system by improving the quality and relevance of curricula. It will incentivize teachers’ better performance, promote their continuous professional development, and help attract mid-career professionals into teaching. The program will also train 10,000 teachers to implement the revised curriculum with a focus on language and science, technology, engineering, and mathematics (STEM) competencies.

Under the program, the existing network of 30 innovative schools will be expanded to 53 to cover all regions of the country. STEM and information and communication technology equipment will be upgraded.  The 53 innovative schools will support at least 220 other schools across the country to implement the new curriculum.

“The program will help implement the government’s ambitious plan to modernize teaching, learning, and school management,” said ADB Social Sector Specialist Mamatkalil Razaev. “By supporting key pillars of the education system—curricula, teachers, and schools—the program will help to further improve the learning outcomes of the Kyrgyz students.”

The Kyrgyz Republic joined ADB in 1994. Since then, the bank has committed more than $1.3 billion in loans, $811 million in grants, and $69 million in technical assistance projects. ADB operations in the country focus on supporting inclusive growth and economic diversification beyond the COVID-19 pandemic, improving access to public and social services, and leveraging regional cooperation and integration.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

 

 

Source: Asian Development Bank

In this seminar, panelists addressed three important questions, including whether developing Asia prepared for economic recovery, what principles can help ensure that recovery is sustainable and climate-resilient, and what role can ADB and other development partners play in supporting recovery objectives.

 

Two years into the COVID-19 pandemic, developing Asia is at a crossroads. While encouraging progress has been made in addressing the pandemic’s impacts, significant downside risks remain and continue to grow. Diverging growth and recovery prospects across and within developing Asia’s subregions are complicated by rising inflation and interest rates, narrowing fiscal space, and intensifying geopolitical tensions. With global uncertainty and the growing threat of climate change, ADB’s developing member countries are searching for targeted, sustainable, and practical solutions to recover from these multifaceted challenges.

 

The event was held as part of the 55th Annual Meeting of the ADB Board of Governors.

 

 

Source: Asian Development Bank

Detained State Counselor Aung San Suu Kyi was sentenced to an additional three years in prison on Thursday. Sean Turnell, an Australian citizen who served as an economic advisor during the National League for Democracy-led government, and three NLD ministers were also given three year sentences.

 

They were prosecuted under the Myanmar Government Secrets Act, according to sources close to the court who requested anonymity for security reasons. The case was based on the contents of Turnell’s computer and some of his documents.

 

The three ministers prosecuted along with Turnell and Suu Kyi were NLD Government Planning and Finance Minister Soe Win, Deputy Minister of Planning, Finance and Industry Set Aung and the former Minister of Planning and Finance Kyaw Win.

 

Turnell was also sentenced to a further three years under the Immigration Law but the two charges will be served concurrently.

 

Suu Kyi has now been sentenced to a total of 23 years in prison for 12 cases.

 

Bo Bo Oo, MP for Dala township in Yangon region, said the prison terms were illegal. He told RFA sentencing the four was only intended to scare the people of Myanmar and strengthen the position of the junta, the State Administration Council (SAC).

Turnell worked as an economic advisor to Suu Kyi since 2017 under the NLD-led government that was ousted in last year’s military coup. He is the first foreigner close to the NLD to be detained since the coup.

 

Lawyer Gyi Myint said imprisoning Turnell under the Secrets Act is not appropriate because the Australian is an economist officially appointed by the NLD-led Government.

 

“Sean Turnell was legally hired and paid for his work by the state. How can these people who represent the State break the secrecy laws?” he said.

 

In a statement, Elaine Pearson, Asia director at New York-based Human Rights Watch, called Turnell’s conviction “politically motivated” and “a cruel injustice.”

 

“He was convicted after a trial in closed court without proper access to legal counsel. It’s critical that the Australian government take all necessary steps to pressure Myanmar’s junta to immediately release Turnell and send him home,” she said.

 

Pearson added that the junta’s decision to add to Suu Kyi’s punishment and convict Turnell and the three NLD ministers shows that its leaders care little for how they are viewed by the international community.

 

“Concerned governments should take this as a clear signal that they need to take concerted action against the junta if they are going to turn the human rights situation around in the country,” she said.

 

Turnell was arrested five days after the Feb. 1, 2021, coup. Australia’s then-foreign affairs minister Marise Payne called for his immediate release on the first anniversary of his detention. That call was repeated in June by current foreign affairs minister Penny Wong and Australian Prime Minister Anthony Albanese.

 

RFA emailed the Australian Embassy in Myanmar regarding his conviction, but has yet to receive a reply.

 

The Guardian quoted Australian Foreign Minister Penny Wong as rejecting the court ruling and calling for Turnell’s immediate release.

 

“Prof Turnell was tried in a closed court – Australia’s chargé d’affaires and consular officials in Myanmar made every effort to attend the verdict but were denied access to the court,” Wong said. “We will continue to take every opportunity to advocate strongly for Prof. Turnell until he has returned to his family in Australia.”

 

The U.N. Secretary General’s Special Envoy for Myanmar Nolin Heza also requested the release of Turnell when she met with State Administration Council Chairman, Senior Gen. Min Aung Hlaing, in Naypyidaw on Aug. 17. A similar appeal was made by Hun Sen, the prime minister of Cambodia, the current chair of the Southeast Asian regional bloc, but to no avail.

 

 

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​ Nationwide residential property prices rise by 2.6% YoY and 1.6% QoQ in Q2 2022

The residential real estate prices of various types of new housing units in the Philippines continued to rise in Q2 2022, albeit slower than the previous quarter’s year-on-year (YoY) growth. However, housing prices recovered from the quarter-on-quarter (QoQ) contraction in Q1 2022. The Residential Real Estate Price Index (RREPI) rose by 2.6 percent and 1.6 percent compared with year-ago and quarter-ago levels, respectively.

By area, residential property prices in the National Capital Region (NCR) and Areas Outside the NCR (AONCR) also grew YoY and QoQ

Residential property prices in the NCR grew by 6.3 percent YoY, primarily driven by the increase in the prices of townhouses and condominium units, which outweighed the decrease in the prices of single-detached/attached houses. Similarly, property prices in the AONCR rose by 2.2 percent YoY as all types of housing units registered an upturn, except for townhouses, which declined marginally.

On a quarter-on-quarter (QoQ) basis, residential property prices rose by 0.2 percent and 2.2 percent in the NCR and AONCR, respectively (Figure 1).

Likewise, prices rise across housing types

In Q2 2022, all types of housing units contributed to the YoY growth in the nationwide RREPI as the prices of duplex housing units, condominium units, townhouses, and single-detached/attached houses increased by 11.3 percent, 8.6 percent, 4.1 percent, and 0.8 percent,

Meanwhile, the 1.6 percent QoQ growth in the RREPI may be attributed to the higher prices of single-detached/attached houses (by 5.5 percent), duplex housing units (by 2.7 percent) and condominium units (by 0.1 percent) (Figure 2).

Nationwide residential real estate loan availments for new housing units increase YoY and QoQ

In Q2 2022, the number of residential real estate loans (RRELs) granted for all types of new housing units in the Philippines increased by 6.5 percent YoY due largely to the 17 percent growth in the AONCR, outweighing the 7.7 percent contraction in the NCR.

Meanwhile, on a QoQ basis, the nationwide availment of housing loans rose by 12.2 percent, which was due to the 32.9 percent and 3 percent increase in RRELs in the NCR and AONCR,

The average appraised value of new housing units in the country stood at Php73,751 per square meter (sqm) in Q2 2022.1 The average appraised value per sqm in the NCR was at Php119,841, higher than the average appraised values of Php73,751 and Php47,094 in the nation and AONCR

The weight of each type of housing unit in the RREPI is determined by dividing the total floor area (in sqm) of a specific type of housing unit over the total floor area of all housing types. In Q2 2022, single-detached/attached houses in the RREPI continued to constitute the largest weight at 58.2 percent. Meanwhile, condominium units, townhouses, and duplex housing units accounted for 23.3 percent, 17.7 percent, and 0.8 percent,

Profile of residential real estate loans in Q2 2022

In Q2 2022, 82.6 percent of residential real estate loans (RRELs) were used to purchase new housing units.2 Meanwhile, by type of housing unit, most of the residential property loans were used for the acquisition of single-detached/attached houses (49.4 percent), followed by condominium units (37 percent) and townhouses (13 percent)

Most of the RRELs granted in the NCR were for the purchase of condominium units, while RRELs granted in the AONCR were for the purchase of single-detached/attached houses. By region, 34.2 percent of the total number of RRELs granted were from the NCR, while the rest were distributed in the AONCR as follows: CALABARZON (34.5 percent), Central Luzon (11.8 percent), Central Visayas (6.2 percent), Western Visayas (4.4 percent), Davao Region (3.6 percent), and Northern Mindanao (1.8 percent). NCR and the said six regions combined accounted for 96.5 percent of total housing loans granted by banks

 

 

Source: Bangko Sentral ng Pilipinas (BSP)

During the Business Session, ADB Governors adopted resolutions, and took note of and approved documents related to the business, finance, administration, and operations of ADB. They also provided guidance and direction to the institution through their statements.

 

ADB President Masatsugu Asakawa also reported on progress since the previous meeting and shared management’s key organizational messages with Governors.

 

The event was held on the sidelines of the 55th Annual Meeting of the ADB Board of Governors.

 

 

Source: Asian Development Bank