MANILA, Oct. 10 (Xinhua) -- The Asian Development Bank (ADB) and the Organization for Economic Co-operation and Development (OECD) signed on Wednesday a new five-year memorandum of understanding (MoU) to deepen collaboration in promoting effective development policies and programs in Asia and the Pacific.
The Manila-based bank said the agreement covers the period 2019-2023 and commits the two organizations to work together to promote policy dialogue, results management, knowledge sharing, and mutual learning, including on anti-corruption, tax policy and administration, macroeconomic policy, and data collection and analyses.
Joint activities include the ADB-OECD Anti-Corruption Initiative, OECD-Asian Roundtable on Corporate Governance, and the OECD Forum on Tax and Crime, the statement said.
ADB said it has also played a key role in the United Nations Development Program (UNDP)-OECD Global Partnership for Effective Development Cooperation.
"Over the past five years, we have worked together to address corruption, improve corporate governance, and combat tax crimes in Asia and the Pacific, among many other areas," said ADB President Takehiko Nakao.
"We look forward to building on this strong partnership, taking advantage of ADB's vast network of policy makers in the region and OECD's solid experience in upper middle-income and high income countries," Nakao added.
Through the new MoU, the statement said the two organizations will continue ongoing initiatives and undertake other studies and events on topics such as macroeconomic policy, Asia's medium-term growth, Southeast Asian economic outlook, and statistics for the Asian region.
Staff sharing will also be expanded to include long-term secondment, it added.
ADB and OECD have a rich history of collaboration dating back to 2005, the statement read.