ADB annual meeting taking place in the Pacific for the first time

Nadi /MONTSAME/ The 52 Annual Meeting of the Board of Governors of the Asian Development Bank kicked off on May 1 in Nadi, Fiji, for the first time in the Pacific region. The official opening ceremony of the meeting is to be held on May 3. A series of seminars, meetings, forums including on sustainable tourism development, ADB strategy 2030’s operational priorities, debt sustainability and development effectiveness as well as press briefings by ADB Director Generals are now taking place. Regarding ADB’s operations in Mongolia, Director General of the East Asia Department Amy S.Leung noted that ADB will address infrastructure gaps, promote renewable energy, foster regional economic integration, expand access to basic urban services, and provide support to agribusiness. Gender equality will remain a focus across ADB operations. The meeting provides opportunities for member governments to interact with ADB staff, nongovernment organizations (NGOs), media, and representatives of observer countries, international organizations, academe and the private sector and this year meeting has gathered over 3000 delegates. From Mongolia, Finance Minister Ch.Khurelbaatar, Deputy Governor of Bank of Mongolia B.Lkhagvasuren and other officials and representatives are taking part in the meeting, a premier forum for the discussion of economic and social development issues in Asia and the Pacific. In a press conference on May 2, ADB President Takehiko Nakao highlighted that Asia is becoming more developed and ADB is paying more attention on climate change adaptation, ocean health, debt sustainability and gender issues. ADB has approved sovereign loans totaling USD2.3 billion, non-sovereign loans totaling USD105.1 million, grants of USD313.9 million, and technical assistance projects worth USD161.1 million for Mongolia. In 2018, ADB committed USD430 million for 8 projects, and 11.18 million on technical assistance for 20 projects. Among the issues being discussed at the Annual Meeting are sustainable tourism and its potential to boost national and regional development efforts, the role of private sector financing for disaster risk management and climate resilience, and the importance of actions to improve ocean health. There are also discussions on ways to respond to heightening global economic uncertainty, the role of digital technologies for financial inclusion, and new tools for sustainable infrastructure development, among others. B.Ooluun