I join the other distinguished Governors in thanking the Government and the people of Thailand for the warm hospitality that has been extended to my delegation since our arrival into this beautiful and ancient city of Chiang Mai. I take this opportunity to thank the President of ADB, Mr. Chino and his staff for the excellent preparations for this Meeting. I also wish to congratulate the Governor and the delegation of Azerbaijan on becoming the Bank's newest member. Year 2000 marks an important milestone. Governors are challenged to reflect on the Bank's current policies and programs and to assess whether it has contributed significantly to the development of our economies and improve the quality of our people in the Asia-Pacific region.
Statistics alone can never paint a complete development picture of the PDMCs.
The opening address by President Chino gives ADB a clear strategic focus over a medium term. He has put life and dynamism into the Bank's agenda for assisting its members. His experience with the Bangladesh slum improvement project shows there is a heart and face to development issues. We are also pleased to note his reference to additional Japanese contribution of support to the Bank's poverty alleviation objectives. Do they recognize that further conditionalities imposed by their contributions simply add more and more cost and succeed only in inhibiting this process.