Asia's Leaders in Madrid to Discuss Region's Future at ADB Annual Meeting
MADRID, SPAIN - Some 3,000 leaders of government, the private sector, academe and civil society from around the world will gather in Madrid this week for the 41st Annual Meeting of the Asian Development Bank (ADB) – the leading development organization in the world’s most dynamic and fastest growing region. Among the topics to be discussed at the meeting – to be held May 3-6 at the Institucion Ferial de Madrid – will be the economic outlook for the Asia-Pacific region amid the global financial turmoil and soaring food and oil prices, as well as climate change and the fight against poverty. Despite the success of some countries’ economies in recent years, the Asia-Pacific region is still home to two-thirds of the world’s poor with 1.5 billion people – three times the population of Europe – living on less than $2 a day. ADB’s Annual Meeting provides an opportunity to discuss ways to combat that poverty and ensure sustainable economic growth. Among those attending are finance ministers and central bank governors. The meeting is held every year in a different one of ADB’s 67 member countries. This is the first time it has been held in Europe since 1998 in Geneva. Having the Annual Meeting in Madrid allows Asian leaders to learn lessons on regional cooperation and integration from the European Union. Spain is an important development partner in the Asia-Pacific region. It joined ADB 21 years ago and has contributed significantly to several special development funds, including on climate change. ADB’s highest policy-making body, the Board of Governors, which comprises one representative from each member country, uses the Annual Meeting to provide guidance on ADB administrative, financial and operational directions. One of the topics it will be discussing this year will be Strategy 2020, ADB’s new long-term strategic framework for 2008-2020, which will change the way the organization serves the region. ADB’s long history in the Asia and Pacific region gives it a distinct comparative advantage to focus its efforts on eradicating poverty, but the organization’s four decades of experience shows that it cannot meet all the needs of its developing member countries. To maximize results, efficiency and impact, ADB will now use its financial and institutional resources in five core areas: infrastructure, environment, regional cooperation and integration, finance sector development and education. A series of seminars will be held over the meeting’s four days addressing topical issues in the Asia-Pacific region. One seminar, Scaling up Investment for Climate Change Mitigation and Adaptation, will discuss the challenge of attracting capital at the required scale to meaningfully address climate change, which is expected to hit the Asia-Pacific region hard. More than 300 journalists have registered to attend the meeting. A fully equipped media center has been set up on site. Any accredited reporters who have not registered but would like to attend can register at the venue. For more information, visit the Annual Meeting media Web site at http://www.adb.org/annualmeeting/2008/med-inv.asp About ADB | 
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