By M Naeem Chaudhry
YOKOHAMA (Japan) May 02 APP: Asian Development Bank – now 50 is holding its high profile 50th Annual Meeting of Board of Governors here from May 04 to 07, to be attended by the delegates across the world.
This year golden jubilee Meeting’s theme is “Building Together the Prosperity of Asia”. The event will accord emphasis to issues such as regional cooperation; trade; financial and economic connectivity across Asia and the Pacific; small- and medium-sized enterprises; sustainable and inclusive cities; and employment.
With more than 3,000 delegates attending the ADB Annual Meeting, is the prestigious and premier forum to hold discourse on economic and development issues, affecting Asia and the Pacific.
Finance Minister, Senator Ishaq Dar is scheduled to attend the 50th Annual Meeting of Board of Governors of Asian Development Bank to be held in Yokohama.
The ASEAN+3 Finance Ministers’ Meeting will also be held on the margins of the Annual Meeting of Board of Governors of Asian Development Bank -turning 50 this year.
The Meet will unleash slew of opportunities for interaction with ADB Management and experts, the region’s leading development figures, policy makers, bankers, and representatives from the private sector, among others.
Mr Takehiko Nakao, President Asian Development Bank will hold opening as well as closing press conference on May 4 and 7 respectively on the eve of four-day annual meeting of Board of Governors.
Two seminars on Resilient Cities, Driving Growth and Advanced and Clean Technology for Development have also been organization during the Annual Meeting besides briefing by the Chief Economist at Yokohama.
Principal Director (TBC) and Director, Department of External Relations will give briefing on ADB’s Annual Meeting and the Program urban and climate change programs. An institutional event will be held on lessons from ADB’s 50 years and insights for the future.
ADB has organized umpteen numbers of engagements, activities and events on occasion to reminisce its 50 years long odyssey during which the bank scripted slew of success stories of economic development for different countries through its lending programs.
ADB – an international development finance institution is one of Pakistan’s largest development partners. As of December 2015, the Bank had disbursed more than dollars 27 billion in loans and over dollars 531 million in grants.
There are certain landmark milestones of the ADB-Pakistan Development Partnership since 1966 with lending programs for IDBP, Tarbela Hydropower Project, Port Qasim expansion project, Chashma Right Bank Irrigation project, Ghazi Brotha Hydropower project, Malakand Rural Development Project and Financial Markets and Governance Project.
Other important projects for which ADB extended loan and assistance include Primary Education Girls Sector program, Access to Justice program, Earthquake Emergency Assistance Program, National Trade Corridor Highway, Floor Emergency Reconstruction Project, Punjab Irrigated Agriculture Investment Project, Social Protection Development Program and CAREC Improving Border Services Project loan.
ADB lending programs and financial assistance helped rebuild lives, improved power infrastructure, ameliorated country’s food security and promoted strong regional networks besides extending support to the region for addressing the formidable challenges of climate change.
The Bank continues to be important financial and knowledge partner in Pakistan’s social and economic development. Besides it will remain a key part of Asia’s forward progress, by doing what it does best-eliminating poverty and fostering climate-smart, inclusive and sustainable development throughout Asia and Pacific.
“Asian Development Bank will continue to play a critical role in building an Asia and Pacific region that is vibrant and sustainable”, says Bank’s president Mr Takehiko Nakao.