Dominguez cites Nakao’s ‘bold’ reforms

Published January 19, 2020, 12:00 AM

by manilabulletin_admin

By Chino S. Leyco

Finance Secretary Carlos G. Dominguez III cited Takehiko Nakao for his leadership at the Asian Development Bank (ADB) that has enabled the institution to carry out bold reforms.

According to Dominguez, Nakao’s reform initiatives have attuned ADB’s programs to present’s technologically driven era, and more effectively deliver development assistance to the bank’s member-countries in the region.

The Philippines, in particular, has been a key beneficiary of President Nakao’s innovations, Dominguez said, noting that funding commitment to the country over the 2016-2022 period rose to around $15 billion under Nakao’s watch.

It was also on Nakao’s term when the ADB made its single largest infrastructure investment commitment to the Philippines and to any other country with the $2.75-billion multi-tranche loan facility for the Malolos-Clark Railway.

“On behalf of the Philippine government, I express extreme gratitude to President Nakao… You have been a great asset for Asia’s development and an effective leader of this institution,” said Dominguez at the farewell ceremony for President Nakao last week.

“More importantly, you have proven to be a true friend and partner to the Duterte administration in bringing about President Duterte’s ultimate goal of liberating Filipinos from poverty,” he added.

President Duterte earlier conferred the Order of Sikatuna with the rank of Grand Cross or Datu, Gold Distinction, to President Nakao.

The award is the Philippines’ highest civilian recognition given to individuals who have rendered exceptional and meritorious services to the Philippines in developing and strengthening relations with the country.