50th meeting of ADB board of governors wraps up, pledging to up investment

Sharachchandra Bhandary

board of governors

Yokohama (Japan), 7 May – The 50th Annual Meeting of the ADB Board of Governors concluded here today, pledging to ramp up investment in the infrastructure development sector through increased collaboration among the member countries for reducing the poverty in the Asia-Pacific region.

The next annual meeting of the ADB is to be convened in Manila, the capital of the Philippines, on May 3-6, 2018.
The host country announced this organizing a press conference here today. It has set ‘Convergence of Economy and People for Inclusive Development’ as the theme of the 51st annual meeting.

The multilateral financial body, ADB, comprising 67 members including 48 countries of the Asia-Pacific region and the rest of the countries except from Latin America and Africa, has expressed its commitment in its 50th annual meeting to support the poor countries with weak infrastructure.

In his concluding remarks, ADB president Takehiko Nakao said poverty alleviation, increasing investment in building standard infrastructures, mobilizing the private sector resources and expansion of the private sector’s involvement in development works for ensuring the prosperity of the Asia-Pacific region were the ADB’s priorities.

The ADB president also expressed the commitment on behalf the bank for carrying out works directed towards climate change and disaster risk reduction, creating employment opportunities by further promoting social development, promotion of technical and vocational education, strengthening of gender equality, further deepening the regional cooperation and integration, expanding the skill and knowledge base, and human resources reform and public procurement and project implementation reform for enhancing the ADB’s effectiveness. RSS