ADB to discuss developments in Asia, Pacific in Yokohama | Daily News


 

ADB to discuss developments in Asia, Pacific in Yokohama

The ADB Board of Governors will discuss developments in Asia and the Pacific as well as institutional matters at ADB's Fiftieth Annual Meeting commencing on May 4 hosted by the Japanese Government in Yokohama.

The year 2017 is an important milestone for ADB, as the Asian Development Bank (ADB) celebrates five spectacular decades of economic development in Asia and the Pacific.

In Yokohama, ADB Governors will gather to reflect on the lessons from the first 50 years of Asian development, and consider how the next 50 years can better the lives of the people in the region,said Woochong Um, Secretary, Asian Development Bank yesterday.

ADB has estimated that the infrastructure needs in developing Asia and the Pacific will exceed $22.6 trillion through 2030, or $1.5 trillion per year, if the region is to maintain growth momentum. This is estimated to rise to over $26 trillion, or $1.7 trillion per year, when climate change mitigation and adaptation costs are incorporated.

With most of the countries in Asia and the Pacific expected to reach middle-income status in the next few years, there will be discussions on overcoming challenges associated with this transition and how ADB and other multilateral development banks could more effectively and efficiently support them in their development progress at the annual meeting sessions.

Also attention will made on how countries achieve the Sustainable Development Goals and how they can be integrated into their national development plans.

There will also be sessions on the importance of women's leadership for the region's development, the role of clean and sustainable technology, and maximising the impact of partnerships among stakeholders for sustainable development. 


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