50th Annual ADB Governors’ Meeting kicks off this week in Japan

• Over 3,000 delegates, to discuss economic and development issues affecting Asia and the Pacific
• ASEAN+3 Finance Ministers’ Meeting to be held on the sidelines of Annual Meeting
• A special book launch on ‘Banking on the Future of Asia and the Pacific: 50 Years of ADB’ to mark golden jubilee 

By Charumini de Silva in Yokohama

The 50th Annual Meeting of the Asian Development Bank’s (ADB) Board of Governors will be held from 4 to 7 May at the Pacifico Yokohama in Japan.

Themed ‘Building Together the Prosperity of Asia’, the meeting this year will focus on issues such as regional corporation, trade, financial and economic connectivity across Asia and the Pacific, small and medium sized enterprises, sustainable and inclusive cities and employment.

With over 3,000 delegates including finance ministers from 67 member countries – of which 48 are from within Asia and the Pacific and 19 outside – central bank governors, private-sector financial institution representatives, Non-Government Organisations (NGOs) representatives, members of the press and others in attendance, the ADB Annual Meeting is the premier forum to discuss economic and development issues affecting Asia and the Pacific.

The 50th Annual Meeting of the ADB is hosted by the Government of Japan. In addition, the ASEAN+3 Finance Ministers’ Meeting will also be held on the sidelines of the Annual Meeting.

As a key development partner, the ADB has worked closely with Sri Lanka since 1966 and has approved cumulative lending, grant, and technical assistance totalling $8.4 billion.

The four-day Annual Meeting of the ADB Board of Governors is an opportunity to provide guidance on ADB administrative, financial, and operational directions. It also provide opportunities for member governments to interact with ADB staff, NGOs, and representatives of observer countries, international organisations, academe and the private sector.

From Sri Lanka a delegation led by Finance Minister Ravi Karunanayake will participate in the 50th Annual Meeting.

A special book launch on ‘Banking on the Future of Asia and the Pacific: 50 Years of the Asian Development Bank’ will be held on the opening day as a part of 50th anniversary celebrations. This event will explore ADB’s role in supporting the transformative change that has reshaped Asia and the Pacific since 1966, drawing lessons from the region’s development success and challenges as input into the bank’s future direction.

Over 50 years, the ADB has mobilised more than $250 billion in infrastructure, research, and knowledge sharing to expand opportunities and build prosperity across Asia and the Pacific, contributing significantly to the region’s historic global rise.

The flagship Governor’s Seminar will be held on 5 May titled ‘Lessons from 50 Years of Asian Development and Implications for the Future’, while the opening session of the Board of Governors will be held on 6 May.

A joint seminar with the International Monetary Fund (IMF) on ‘Transcending the Middle Income Challenge’ will discuss factors that lead to successful transition from middle to high income status, and how the region’s current crop of middle income economies can benefit from these lessons.

In addition, the four-day Annual Meeting will see many discussions and events held by the host country, Japan and various other institutions.