Manila  - The Asian Development Bank (ADB) cited on Wednesday the progress made by Asia and the Pacific countries in reducing poverty, but noted that "large pockets of poverty" remain in many countries in the region.

"Over the past 15 years, Asia has made rapid progress in the fight against poverty, reducing the number of poor from around one in two to around one in four," the Manila-based ADB said.

"However, large pockets of extreme poverty continue to persist in even as economies have posted record growth rates over that time," it added.

The bank also said that the region is facing serious challenges in the areas of sanitation and maternal mortality, with many countries showing high maternal mortality rates such as Afghanistan, Cambodia and Nepal.

The ADB noted that more than a quarter of urban households in 13 countries still lack access to improved sanitation.

Jong-Wha Lee, ADB chief economist, expressed concern that the worldwide economic slowdown could serious hamper efforts to improve the living standards of the people in the region as specified in the Millennium Development Goals (MDGs).

"With the recent global downturn, which has led to large declines in exports, production and aggregate demand, regional growth will continue to be under severe downward pressure," Lee said. "Slower growth in the short-term will make progress in achieving the MDGs difficult for many countries in the Asia and the Pacific."

The bank said inflows of foreign direct investment fell sharply in a number of economies in the region last year as a result of the global economic crisis. (dpa)