Asakawa affirms continued focus on climate change and private sector development

Asian Development Bank (ADB) will continue to focus on combating climate change and private sector development, ADB President Masatsugu Asakawa said at the Board of Governors 57th ADB Annual Meeting Business Session in Tbilisi, Azernews reports.

“This year, ADB will use the Strategy 2030 midterm review, and the Corporate Results Framework for 2025-2030, to learn and continue to evolve our support to clients. ADB will effectively and efficiently use its newly expanded lending capacity to support key priorities, along with our members most in need.

ADB's new operating model will continue to emphasize climate action and private sector development. To advance our shifts under the new operating model, and ensure accountability, we will also introduce new ways of working. These include new digital tools, regional work programs, and corporate performance indicators,” the president of ADB said.

Asakawa noted that the fourteenth replenishment of the Asian Development Fund is being finalized.

“This will allow us to support the region’s poorest and most vulnerable countries until 2028,” he said.

To note, the theme of the 57th ADB Annual Meeting in Tbilisi, which runs from May 2 through May 5, is "Bridge to the Future".

The annual meeting provides ADB Governors with a platform to address developmental issues and challenges confronting the Asia-Pacific region. The event typically attracts several thousand participants, including finance ministers, central bank governors, senior government officials, private sector representatives, members of international and civil society organizations, youth, academics, and media personnel.