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APD | Asian Development Bank (ADB) to hold 53rd annual meeting in Incheon, Republic of Korea in 2020

World2019-01-31

By APD writer Melo M. AcunaMANILA, Jan.31 (APD) -- The Asian Development Bank (ADB) will hold its 53rd Annual Meeting of its Board of Governors in Incheon Metropolitan City, Republic of Korea from 2 – 5 May 2020.This will be the third time the Republic of Korea is hosting the meeting. It hosted ADB’s 37th Annual Meeting in Jeju Island in 2004 and ADB’s 3rd Annual Meeting in 1970.In a statement released today, the ADB said the annual meeting is the largest gathering of the bank and a unique opportunity for the ADB Governors to engage in focused discussion on development issues and challenges facing Asia and the Pacific.About 3,000 participants regularly join the meeting, including finance ministers, central bank governors, senior government officials, members of the private sector, international organizations’ representatives, civil society, youth, academia and the media.“2020 marks the 20th year since the Republic of Korea graduated from being a recipient of official development assistance and transitioned to a donor,” ADB President Takehiko Nakao said.“As host of next year’s Annual Meeting, we are excited about the country sharing its development experiences and successes with the international community,” he added.The Republic of Korea is a founding member of the ADB. Before its graduation from ADB borrowing, cumulative approvals to the country reached US$6.3 billion. ADB approved loans to the Republic of Korea from 1968 to 1988 amounting to US$2.3 billion, and then provided US$4 billion in 1997 in support of reforms after the financial crisis.The ADB said the Republic of Korea contributed US$7.4 billion in capital subscription and contributed and committed over US$643 million to ADB’s Asian Development Fund. Commercial and official co-financing by the Republic of Korea amounted to US$4.2 billion comprising 42 investment projects and five technical assistance. It has also contributed US$122 million to two trust funds, the e-Asia and Knowledge Partnership Fund and the Future Carbon Fund.Established in 1966, the Asian Development Bank is owned by 67 members, 48 from the region.This year’s Annual Meeting of ADB’s Board of Governors, the 52nd, will be held from 1-5 May 2019 in Nadi, Fiji, marking the first time a Pacific Island country will host the event.(ASIA PACIFIC DAILY)

By APD writer Melo M. Acuna

MANILA, Jan.31 (APD) -- The Asian Development Bank (ADB) will hold its 53rd Annual Meeting of its Board of Governors in Incheon Metropolitan City, Republic of Korea from 2 – 5 May 2020.

This will be the third time the Republic of Korea is hosting the meeting. It hosted ADB’s 37th Annual Meeting in Jeju Island in 2004 and ADB’s 3rd Annual Meeting in 1970.

In a statement released today, the ADB said the annual meeting is the largest gathering of the bank and a unique opportunity for the ADB Governors to engage in focused discussion on development issues and challenges facing Asia and the Pacific.

About 3,000 participants regularly join the meeting, including finance ministers, central bank governors, senior government officials, members of the private sector, international organizations’ representatives, civil society, youth, academia and the media.

“2020 marks the 20th year since the Republic of Korea graduated from being a recipient of official development assistance and transitioned to a donor,” ADB President Takehiko Nakao said.

“As host of next year’s Annual Meeting, we are excited about the country sharing its development experiences and successes with the international community,” he added.

The Republic of Korea is a founding member of the ADB. Before its graduation from ADB borrowing, cumulative approvals to the country reached US$6.3 billion. ADB approved loans to the Republic of Korea from 1968 to 1988 amounting to US$2.3 billion, and then provided US$4 billion in 1997 in support of reforms after the financial crisis.

The ADB said the Republic of Korea contributed US$7.4 billion in capital subscription and contributed and committed over US$643 million to ADB’s Asian Development Fund. Commercial and official co-financing by the Republic of Korea amounted to US$4.2 billion comprising 42 investment projects and five technical assistance. It has also contributed US$122 million to two trust funds, the e-Asia and Knowledge Partnership Fund and the Future Carbon Fund.

Established in 1966, the Asian Development Bank is owned by 67 members, 48 from the region.

This year’s Annual Meeting of ADB’s Board of Governors, the 52nd, will be held from 1-5 May 2019 in Nadi, Fiji, marking the first time a Pacific Island country will host the event.

(ASIA PACIFIC DAILY)

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