ADB launches new partnerships to support innovative solutions

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Islamabad

The Asian Development Bank (ADB) will partner with three winning teams from a hackathon hosted by the bank in partnership with the Asian Institute of Management (AIM) from 31 August to 2 September.
ADB and AIM held the competition as part of Digital Week 2019 taking place from 2 to 5 September, said ADB press statement received here.
More than 700 youth and startups from around the world presented innovative solutions to three challenges, it said adding ADB and AIM defined the three challenges based on current organizational and development needs.
The statement said that ADB has also entered into non-exclusive cooperation arrangements with Microsoft Operations Pte Ltd. and Oracle Corporation Singapore Pte Ltd to collaborate on the adoption and use of emerging technologies in ADB’s work.
Under the cooperation arrangements, ADB and the companies will exchange information on emerging technologies, train people to apply these technologies, and organize joint events and meetings.
Both companies will also provide advisory and knowledge support for ADB’s digital transformation.
“ADB recognizes that partnerships with top IT companies as well as small startups will help support our digital innovation program through knowledge exchange, capacity building, and co-creation of digital solutions designed for ADB’s business needs,” said ADB Vice-President for Administration and Corporate Management Ms. Deborah Stokes.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. In 2018, it made commitments of new loans and grants amounting to $21.6 billion. Established in 1966, it is owned by 68 members—49 from the region.—APP