The Asian Development Bank (ADB) president Mr. Haruhiko Kuroda says, ‘The potential for the Myanmar economy is really huge.’ As Myanmar is the fourth most populous country in South East Asia, this had a huge potential labour pool that presented opportunities for investment.
Myanmar still owed US$490 Millions to ADB and Mr. Kuroda mentioned that as soon as Myanmar returns its debts back, Myanmar will have opportunity to make new deal (loan) again.
ADB said on Friday development fund, loaning to facility for low-income countries, to increase by about 6% to around $12 billion despite economic and fiscal constraints faced by donor countries. For the 2009-2012 cycle, the funding was around $11.3 billion, so ADB to increase around US$700 millions.
Mr. Haruhiko Kuroda Biography and Career
Born in 1944, Mr. Kuroda holds a BA in Law from the University of Tokyo and a Master of Philosophy in Economics from the University of Oxford.
- February 2005 President of the Asian Development Bank
- July 2003 – January 2005 Professor, Hitotsubashi University, Graduate School of Economics
- March 2003 – January 2005 Special Advisor to the Cabinet
- 1999 – 2003 Vice Minister of Finance for International Affairs
- 1997 – 1999 Director-General, International (Finance) Bureau
- 1996 – 1997 President, Institute of Fiscal and Monetary Policy
- 1994 – 1996 Deputy Director-General, International Finance Bureau
- 1993 – 1994 Commissioner, Osaka Regional Taxation Bureau
- 1992 – 1993 Deputy Vice Minister of Finance for International Affairs
- 1989 – 1992 Director (of several divisions including International Tax Affairs Division), Tax Bureau
- 1988 – 1989 Secretary to the Minister of Finance
- 1987- 1988 Director, International Organizations Division, International Finance Bureau
- 1975 – 1978 Secondment to the International Monetary Fund, Washington. D.C.
- 1967 Joined Japan’s Ministry of Finance
- B.A. in Law, University of Tokyo, 1967
- M. Phil. in Economics, University of Oxford, 1971 (Source@ADB)