Despite remarkable growth in per capita GDP over the past 50 years, poverty remains widespread in Asia, says Haruhiko Kuroda, governor of the Central Bank of Japan and former president of the Asian Development Bank. More must be done to promote growth that benefits everyone, regardless of socioeconomic status or gender, he says. The poor need education and jobs, governments must help small businesses flourish, the poor must learn how to save and how to borrow money through financial institutions rather than moneylenders, and so financial institutions need to improve financial literacy among the poor and be more open to lending against uncertain risk.

Mr. Kuroda made these remarks in May at the Global Think Tank Summit in Yokahama, organized by the Asian Development Bank Institute and the Think Tanks and Civil Societies Program of the University of Pennsylvania.

Read the transcript

http://bit.ly/2tiE4WG

Read the whole speech: Toward Inclusive Growth

http://www.boj.or.jp/en/announcements/press/koen_2017/ko170502a.htm/

Listen to and watch the whole speech

https://youtu.be/PE2J5nlzaQo

Know more about the Global Think Tank Summit 2017

https://www.adb.org/news/events/global-think-tank-summit-2017