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ADB Annual Meeting to be Held in Georgia in May 2024
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Summarized by durumis AI
- The Asian Development Bank (ADB) will hold its 57th Annual Meeting in Tbilisi, Georgia in May 2024, marking the first time the event will be held in the country.
- The meeting will serve as a platform for discussing development issues and challenges in the Asia-Pacific region, with thousands of attendees including finance ministers and central bank governors.
- ADB plans to strengthen cooperation with Georgia by addressing its geopolitical challenges and climate change issues, and exploring potential in sectors such as agriculture, tourism, and regional trade.
The Asian Development Bank (ADB) has decided to hold its 57th Annual Meeting in Tbilisi, the capital of Georgia, from May 2 to 5, 2024. This will be the first time that the ADB Annual Meeting has been held in Georgia.
The ADB Annual Meeting is a forum for discussion of development issues and challenges in the Asia-Pacific region, and is attended by thousands of people, including finance ministers, central bank governors, senior government officials, private sector representatives, international organizations and civil society organizations, youth, academia, and journalists.
ADB President Masatsugu Asakawa said, "Georgia is a vibrant trade hub in Central Asia and the Caucasus region, and it also serves as a vital bridge connecting Asia and Europe." He added, "The 2024 Annual Meeting will be a significant opportunity to showcase Georgia's cultural heritage and potential."
Georgia's Finance Minister Lasha Khutsishvili also said, "The theme we have chosen for the 57th Annual Meeting, 'Bridging to the Future,' reflects the need for the Asia-Pacific region and the world to work together to overcome crises, drive reforms, and build a brighter future."
The theme of the 56th Annual Meeting last year was "Rebounding Asia: Recover, Reconnect, Reform."
Since 2007, the ADB has been a key multilateral development partner for Georgia, and has provided $3.9 billion in 82 public sector loans, grants, and technical assistance to the country. The ADB currently has a lending portfolio of $1.75 billion in 17 ongoing projects.
The ADB plans to continue to support Georgia in addressing the challenges posed by its geopolitical situation and the growth uncertainties resulting from climate change, and to help expand the role of the private sector. To this end, the ADB will provide climate-resilient financing for water resource management and irrigation facilities, urban transport and infrastructure, and will promote the export of green energy.
The ADB will also explore Georgia's potential in areas such as agriculture, tourism, and regional trade, and will work to address unemployment and skills gaps. The ADB plans to promote public enterprise reform, gender equality, environmentally sustainable development, and innovation.
The ADB strives to reduce extreme poverty and foster inclusive, climate-resilient, and sustainable growth in the Asia-Pacific region. The ADB has been operating in 68 member countries since its inception. There are 49 developing member countries in the Asia-Pacific region.
