ASIATODAY.ID, MILAN – The challenges facing Asia and the Pacific today present not only risks but also a pivotal opportunity to shape a more resilient and sustainable future, Asian Development Bank (ADB) President Masato Kanda emphasized at the Opening Session of the 58th ADB Annual Meeting of the Board of Governors in Milan, Italy, May, 5 2025.
“External shocks, mounting debt burdens, and climate change weigh heavily on our region’s people and economies. Yet we are not starting from scratch. Growth remains robust, trade and economic integration are deepening, supply chains are diversifying, and digital innovation is accelerating,” said Mr. Kanda.
“Uncertainty should not prompt retreat—it demands boldness, speed, and unprecedented collaboration.”
Over 5,000 participants—including government leaders, private sector executives, civil society advocates, and academics—gathered for the ADB Annual Meeting 2025. Among the dignitaries were Italian Prime Minister Giorgia Meloni, Italian Minister of Economy and Finance Giancarlo Giorgetti, and Fabio Panetta, Governor of the Bank of Italy and Chair of the ADB Board of Governors.
Mr. Giorgetti highlighted the importance of international partnerships: “Enhanced collaboration supports sustainable long-term economic growth, mitigates downside risks, and helps shape a stable future. ADB continues to serve as a leading multilateral development bank and a trusted partner for Asia and the Pacific.”
The ADB Annual Meeting 2025 spotlighted four key priorities driving transformational change across Asia and the Pacific:
- Food Security: ADB will scale up financing for food systems transformation to $40 billion by 2030, addressing regional vulnerabilities and ensuring food resilience.
- Digital Transformation: Strategic investments in digital technologies will improve access to education, finance, and markets, accelerating inclusive digital connectivity.
- Energy Connectivity: ADB plans to modernize energy systems, including a readiness to commit up to $10 billion to support the ASEAN Power Grid initiative.
- Climate Resilience: Deepened investments will strengthen infrastructure, protect ecosystems, and assist vulnerable communities in adapting to climate change.
Additionally, ADB reaffirmed its commitment to private sector development, aiming to quadruple private sector financing to $13 billion annually by 2030.
As a premier multilateral development bank, ADB is dedicated to fostering inclusive, resilient, and sustainable growth in Asia and the Pacific. Founded in 1966 and owned by 69 members—50 from the region—ADB leverages innovative financial tools and strategic partnerships to transform lives, build high-quality infrastructure, and safeguard the environment. (AT Network)
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