The private sector is the engine of development for both industry and the services sector. Private enterprise drives the allocation and use of resources and productive processes, generating jobs and impacting both social welfare and the environment. This is why the actions of business are so critical for sustainable development.
70 years ago the world, and our region, was a very different place. But amid the horror and devastation of World War II, and its terrible impact on the countries of Asia and the Pacific, 1945 was also a year, which saw the dawning of a bright new ideal.
Multilateral development banks, including the Asian Development Bank, make an invaluable contribution to the United Nations development agenda. Your enhanced support for the implementation of post-2015 sustainable development in the Asia-Pacific region is key to the success of this agenda.
The severity and scale of natural disasters are often magnified by their knock-on effects, by causing turmoil to economies, communities and ecosystems. In the Asia-Pacific region, water-related disaster risks are further compounded by the great diversity of challenges facing our member States, including severe storms, flooding, landslides and droughts — often occurring concurrently. In turn, they present a major challenge to the implementation of sustainable development and the priorities of the post-2015 development agenda.
For a new and enhanced Hyogo framework to succeed, it needs to be supported by a combination of adequate and innovative financing flows with the right mix. So the question then is how we go about mobilizing the right blend of resources?