Peter Costello

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Nomination of Australian Director to the Asian Development Bank, Manila



The Treasurer today announced the nomination of Mr Phil Bowen PSM, a senior official with the Department of Finance and Administration, for appointment as Director, Asian Development Bank (ADB) from 1 April 2007 for a period of three years.  Mr Bowen will replace Mr Steve Sedgwick, who has served in the position since April 2002.

On the acceptance of this nomination, Mr Bowen will represent a constituency of countries within the ADB comprising Australia; Azerbaijan; Cambodia; Hong Kong, China; Kiribati; Federal States of Micronesia; Nauru; Palau; Solomon Islands; and Tuvalu.  Directors are employees of the ADB and their salaries and allowances are met by the ADB. 

Mr Bowen is a highly experienced Commonwealth public servant who has held various senior executive positions.  Since December 2001, he has been Deputy Secretary and General Manager, Budget Group, Department of Finance and Administration (Finance).  Prior to this Mr Bowen was Deputy Secretary and General Manager, Property Group (Finance).  Mr Bowen has also held senior positions in the former Department of Transport and Communications and the Civil Aviation Authority.

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.

3 November 2006

Contact: Renae Stoikos
03 9650 0244

3 Nov 2006

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