Asian Development Bank (ADB) President Masato Kanda called for stronger regional cooperation and bolder action to address rising uncertainties in Asia and the Pacific, as he opened the lender’s 58th Annual Meeting of the Board of Governors in Milan, Italy.
“External shocks, debt burdens, and climate change weigh heavily on the region, but these challenges are also opportunities to build a more resilient and sustainable future,” Kanda said. “Uncertainty is not a reason for retreat. It is a call to be bolder, to move faster, and to work more closely than ever before.”
More than 5,000 delegates—including Italian Prime Minister Giorgia Meloni, Italian Economy Minister Giancarlo Giorgetti, and Bank of Italy Governor Fabio Panetta—attended the event, which emphasized Italy’s growing partnership with the ADB.
Kanda outlined four focus areas for the bank: scaling up food systems financing to $40 billion by 2030; investing in digital access for education, finance, and markets; committing up to $10 billion for energy connectivity such as the ASEAN Power Grid; and expanding climate adaptation through resilient infrastructure and ecosystem restoration.
The ADB also reaffirmed its plan to quadruple private sector financing to $13 billion annually by 2030 to spur inclusive and sustainable growth.
Founded in 1966, ADB is owned by 69 members, including 50 from Asia and the Pacific, and plays a central role in supporting infrastructure, development finance, and climate resilience in the region.
Business News Asia