YOKOHAMA –

In response to rapidly aging populations in Asia and the Pacific, the government and the Asian Development Bank have agreed to cooperate on strengthening efforts to boost universal health coverage in the regions based on Japan's health system.

The Manila-based financial institution and the Japan International Cooperation Agency (JICA), a governmental entity that carries out Japan's official development assistance, signed a memorandum of understanding to cooperate in areas such as health policy formulation and medical workforce development. The two institutions will also cofinance the building of basic health- and welfare-related infrastructure.

The signing took place at the international bank's annual meeting, which kicked off Thursday at the Pacifico Yokohama convention center in Yokohama.

Attended by some 4,000 people, including key officials of governments, central banks, other financial institutions and NGOs, the meeting, which also marked the 50th anniversary of the ADB's establishment, is scheduled to run through Sunday. The officials will discuss issues in the Asia and Pacific regions, including poverty, women's empowerment, sustainable societies, infrastructure development and health care.

"Health issues arising from aging are a critical challenge to Asia," said ADB President Takehiko Nakao of Japan. To establish efficient health care systems is important for growth in the regions, where graying is expected to accelerate further, he added.

"In 2016, one in eight people in our region was aged 60 or above. By 2050, it will be one in four," said Nakao. "In the face of this situation, promoting universal health coverage, which is fundamental to equality and fairness among people is essential to maintain sustained growth."

Also at the event was Minoru Kihara, senior vice minister of finance. He said that, as a country where universal health coverage has been provided since 1961, Japan can become a role model for rest of Asia on how to establish a sustainable delivery amid an aging society.

"In the coming years, as many Asian countries are forecast to experience aging societies far earlier than European nations, we are facing a challenge of realizing UHC and training people to deal with prevention and treatment of non-communicable diseases such as cancer, diabetes and dementia," Kihara said during the meeting's first session, which was hosted by the Japanese government.

Another speaker, JICA President Shinichi Kitaoka said: "As a pioneer country of aging, Japan is ready to share its experiences and lessons learned with other countries that will face similar situations in the near future."

Meanwhile, Nakao dismissed the view that the rising profile of the Asian Investment Infrastructure Bank, a China-led investment bank that is often cited as a potential rival of the ADB, would adversely affect ADB operations. He said it should be viewed as a cooperative partner rather than a competitor.

"I don't think we would change our business model" because of the AIIB, Nakao said at a news conference after the first session.

ADB also announced it will launch initiatives to promote public-private partnerships in which public entities and private firms work together on projects that benefit the public by using more efficient private-sector expertise.

One of the new ADB programs, called the Infrastructure Referee Program, will provide consultations when public and private-sectors entities have disagreements.