Peter Costello

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Nomination of Australian Director to the Asian Development Bank, Manila

NO.001

Nomination of Australian Director to the Asian Development Bank, Manila

The Acting Treasurer, Senator the Hon. Amanda Vanstone, today announced the Government will nominate Mr Steve Sedgwick for the position of Director of the Asian Development Bank (ADB) in Manila.

Mr Sedgwick will be responsible for representing a constituency of countries within the ADB, the members of which are: Australia; Azerbaijan; Cambodia; Hong Kong, China; Kiribati; the Federated States of Micronesia; Nauru; the Solomon Islands; and Tuvalu.

Following the formal election process, it is expected that Mr Sedgwick will take up the position from 1 April 2002 for a three year period, replacing Mr John Lockhart, AO, who has served in the position since July 1999.

Mr Sedgwick's main duties will be to examine and provide advice on the wide range of policy issues considered by the ADB Board of Directors, including ADB loan and budgetary proposals.

The Government considers that with his background and extensive experience, Mr Sedgwick will make a valuable contribution at the ADB as Director. In addition to his previous position as Secretary of the Department of Education, Science and Training, Mr Sedgwick has had a wide range of experience within the Australian Public Service, including as Secretary of the Department of Finance and in senior positions with the Department of the Prime Minister and Cabinet.

Australia has been a member of the ADB since it was established in 1966 to assist the economic and social development of countries of the Asia and Pacific region. Australia remains one of the most significant shareholders in the Bank and attaches considerable importance to its work within the region.

CANBERRA ACT
18 January 2002

18 Jan 2002

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