MADRID, Spain (AP) -- The Asian Development Bank fended off criticism Sunday that it is neglecting the region's poorest countries by lending heavily to cash-rich emerging powerhouses like China and India.Supachai Panitchpakdi, chairman of a blue-ribbon panel that devised the bank's new long-term strategy, called those comments by The Wall Street Journal "disturbing" and "misinformed" and insisted the bank remains committed to those most in need.
He spoke as the bank met in Madrid for it annual meeting, which has been dominated by soaring food prices around the world and the danger this poses for Asia, home to two-thirds of the world's poor.
On Saturday the bank announced emergency funding to help poor countries struggling with rice prices that have nearly tripled in four months. But it warned these could keep rising and stifle economic growth in the region.
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