This is why we at ADB have made poverty reduction our overarching goal. Let me elaborate on the thinking behind these three pillars. In our experience, economic growth is the most powerful tool for combating poverty. Economic growth can reduce poverty by generating employment and income. Growth also expands public revenues that could be used for better basic infrastructure and social services, of which the poor are in desperate need.
Growth can lift many more people out of poverty if it is pro-poor and sustainable.
Therefore, first pillar of poverty reduction strategy is pro-poor sustainable economic growth. However, growth on its own is not sufficient to eliminate poverty, and needs to be accompanied by a comprehensive program of social development. Social development should therefore accompany economic growth in order to reduce poverty effectively. Thus the second pillar of ADB's poverty reduction strategy is social development. Third pillar of poverty reduction strategy is the promotion of good governance.