ADB appoints new Philippine country director

MANILA, Philippines- The Asian Development Bank announced on Tuesday the appointment of Neeraj Jain as new country director for Philippine operations, as outgoing country director Tom Crouch is promoted to the position of deputy director general, ADB Southeast Asia department. Jain's appointment took effect on April 18. The regional lender said Jain, who holds a postgraduate degree in economics, has been with ADB for 12 years. Prior to his appointment, Jain was country director of the ADB’s Tajikistan resident mission from 2005 to 2007. He has also worked as ADB economist and relationship manager for the Philippines, Indonesia, Malaysia, and Kazakhstan. “The Philippines is a strategic partner of ADB and I look forward to working once again in building the ADB-Philippines development partnership by working closely with government, civil society and other stakeholders," Jain said in an ADB statement. The Philippines is a founding member of the ADB and is the bank’s 11th largest shareholder. It is the fifth largest borrower, with over $9 billion in loans since 1966, accounting for about 8 percent of total lending, and is one of the bank’s largest clients for private sector lending and equity investments. - GMANews.TV