ADB fully committed to supporting journeys of all developing members – Asakawa

ADB is fully committed to supporting the journeys of all its developing members and there should be a clear understanding of what needs to be done to rebound and recover.  This includes the need to adapt and evolve, so that ADB can continue to serve the region effectively, Masatsugu Asakawa, President, Asian Development Bank, told the Board of Governors Opening Session, at the 56th Annual Meeting, yesterday at Incheon, Republic of Korea

“We face enormous challenges. The scale and urgency of these challenges cannot be met with “business as usual.” We know, for example, that climate events are causing destruction on a scale never seen before; debt and other crises are limiting the ability of governments to meet the needs of their people and millions of people are at risk of falling back into poverty and losing out on the opportunities of growing economies.

First, we need to recognise that development is no longer possible without effective climate action. Green and resilient economies offer the only path to strong and lasting growth. Supporting this is fully compatible with the long-term development agendas that we have been pursuing with our developing member countries. So, let’s make every effort to help economies transition, swiftly and justly, to a net zero future. Let’s also ensure that people, including women and their communities, can adapt to climate change.” 

Asakawa emphasized that ADB’s evolution is vital for the future of development.