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ADB meets to set course on region’s development
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A crane moves a shipping container in the container pool of a seaport in Qingdao in eastern China's Shandong province, Oct. 13, 2015. (AP/*)
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span style="line-height:1.6em">Senior government officials, business leaders, academics, and representatives from civil society and development organizations gathered fromMonday until Thursday in Frankfurt, Germany for the Asian Development Bank’s (ADB) 49th annual meeting of its board of governors.
The meeting attracts over 3,000 participants and offers a platform for major decision makers such as finance and development ministers, central bank governors, private sector and civil society partners to discuss challenges and explore solutions facing Asia and the Pacific.
It is also a premier forum for the discussion of economic and social development issues in the region.
Indonesia’s Finance Minister Bambang Brodjonegoro is slated to represent Indonesia and will talk in several key seminars during the event
Under the theme “Cooperating for Sustainability”, the meeting will highlight the critical importance of sustainable, inclusive development and the need for closer Asian and European linkages to support it.
The recent adoption of the Sustainable Development Goals to replace the Millennium Development Goals has highlighted the need for greater sustainability and inclusiveness in global development.
The governors’ seminar, entitled “Structural Reforms: Pathways to Sustained Growth”, will examine the factors causing the current global growth slowdown and the reforms needed to address constraints and put the world back on a path towards sustained and inclusive growth.
A joint seminar of ADB and the International Monetary Fund, meanwhile, will look at rising financial links between Asia and Europe, and how the current benefits can be expanded and risks mitigated to ensure any future financial shocks can be effectively absorbed.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration.
Established in 1966, ADB in December 2016 will mark 50 years of development partnership in the region. It is owned by 67 members — 48 from the region. In 2015, ADB assistance totaled US$27.2 billion, including co-financing of $10.7 billion.
