Our challenge is to devise means of catalyzing these flows to all countries and more widely across sectors. A strong private sector does not always emerge by itself, especially in developing economies. We have, therefore, developed another new strategy to promote private sector development, with a sharper focus on pro-poor growth. We are emphasizing on the following three mutually-reinforcing and complementary strategic areas in ADB's private sector development strategy. The first strategic thrust consists of ADB's support to create an enabling environment to enhance private sector activities.
Good governance is also crucial for private sector development.
Good governance means honest and efficient public administration, and responsible management in the private sector, sensitive to all shareholders and to stakeholders in society. We are committed to developing best practices in the sectors in which we are actively involved. Basically, we try to help governments create a transparent and competitive environment to ensure a level playing field for private sector investors. The second strategic thrust of private sector development strategy consists of assistance to create business opportunities for the private sector. ADB is providing support to governments' privatization programs, and facilitates public private partnerships through the development of innovative concession-based financing arrangements.