Canada insists on strict control mechanisms when attracting private investment through ADB

Canada advocates for the Asian Development Bank (ADB) to strengthen its use of clearly defined objectives, measurable performance indicators, and robust accountability mechanisms to ensure that private capital mobilization delivers real results in private sector development, Acting Governor for Canada in the ADB, Cam Do, said during the Governors' Business Session at the 59th Annual Meeting of the ADB Board of Governors, Report informs.

She emphasized that the private sector is directly dependent on a sound legal and regulatory framework, transparent governance, and a predictable operating environment.

"In this regard, Canada supports ADB's efforts to engage with governments to improve the investment climate, ensure greater market access, and strengthen the institutional foundations of the key elements needed to integrate developing economies into global value chains.

As Canada expands its private sector operations, we advocate for the consistent application of specific targets, measurable results, and robust accountability mechanisms to ensure that private capital mobilization leads to tangible development results," Cam Do noted.