Speedier investment and stronger cooperation with the private sector are key for the Asian Development Bank to continue supporting further growth in the Asia-Pacific region, the bank’s president, Takehiko Nakao, said.

“We should make our (financing) system faster or more responsive to countries’ needs,” Nakao told a news conference Sunday during the international bank’s 50th annual meeting at Pacifico Yokohama. “We are now implementing procurement reforms. And our human resources should be further strengthened.”

The ADB has been criticized for slow decision-making on loans compared with the Asian Infrastructure Investment Bank (AIIB), a China-led investment counterpart often referred to as the ADB’s rival.