ADB Board of Governors’ four-day annual moot starts today

Pakistan ADB

The Asian Development Bank (ADB), one of the top international financial lenders, is all set to hold the Board of Governors’ 56th annual meeting at South Korean city Incheon, bordering the capital of Seoul, from May 2 to 5.

The theme for this year’s conference is “Rebounding Asia: Recover Reconnect, and Reform,” wherein relevant issues will be discussed with members and development partners in working toward an inclusive, resilient, and prosperous Asia and the Pacific.

The forum would be taking up a wide range of issues including food security, climate change, and dealing with external shocks such as the Russian invasion of Ukraine, paving the way for sustainability and progress of the region with robust economic policies.

Besides, it would deliberate on various reforms that the ADB is undertaking to introduce innovative climate financing, expand its lending capacity, and restructure to better meet the needs of its developing member countries.

The meeting is being held at a time when Pakistan had recently witnessed massive floods caused by torrential rains, inflicting losses of over $30 billion to the national economy and created issues of food security, damaged infrastructure, washed away livestock and collapsed houses.

There is a forecast of another spell of heavy downpours in parts of the country this season again that could lead to further devastation of the already calamity-hit nation.”—APP