Manila, April 9 -- Finance Secretary Carlos Dominguez III has underscored the need for the Asian Development Bank (ADB) and the World Bank to closely coordinate efforts and explore their complementarities to more effectively accelerate sustainable development in the Asia-Pacific region, the Department of Finance (DOF) said in a statement on Tuesday.
On behalf of the Philippines, Dominguez said during the recently concluded Association of Southeast Asian Nations (ASEAN) 23rd Finance Ministers Meeting that close coordination between the two multilateral institutions will help weed out duplications in their functions and help them respond more effectively to the region's financing needs.
Aside from the Philippines, Cambodia and Vietnam also ...