ADB’s chairman sees opportunity in regional challenges

Asian Development Bank (ADB) President Masato Kanda described the challenges facing Asia and the Pacific as opportunities to build a stronger and more sustainable future.

Speaking at the ADB’s 58th Annual Meeting of the Board of Governors, Kanda said the region faces challenges from external shocks, debt burdens, and climate change, but there are positive signs like solid growth, deepening trade and economic integration, diversifying supply chains, and accelerating digital connectivity.

This year’s Annual Meeting focuses on driving transformational change in Asia and the Pacific through four key areas.

ADB will increase financing for food systems transformation to $40 billion by 2030 to address vulnerability in the region’s food systems. Additionally, ADB is investing in digital technologies to enhance access to education, finance, and markets.

The organisation is also committed to modernising energy systems and supporting the ASEAN Power Grid with up to $10 billion. Lastly, ADB is increasing investments in building resilience through infrastructure, ecosystem restoration, and climate change adaptation for vulnerable communities.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama