The Board of Governors of ADB approved the bank’s 2023 financial statements and a $1.42 billion net income allocation from its ordinary capital resources, the highest in ADB’s history.
Donors and the Asian Development Bank (ADB) have agreed to a replenishment of $5 billion for ADB’s Asian Development Fund (ADF) 14 and Technical Assistance Special Fund (TASF) 8. The commitment was made during ADB’s 57th Annual Meeting.
Developing Asia and the Pacific is unprepared to secure the well-being of its rapidly aging population as the growing share of older people in the region face challenges from low pension coverage to health problems, social isolation, and limited access to essential services.
Scenes from the 57th Annual Meeting of the ADB Board of Governors that was held in Tbilisi, Georgia, from 2 to 5 May 2023 under the theme “Building a Bridge to the Future.”
To successfully drive development, ADB is committed to bringing the best global knowledge to its developing member countries. This seminar discussed how sector knowledge can best be shared between ADB’s developed and developing members, and how ADB operations can enable effective exchanges, including on technologies, policy, and design.
This institutional event focused on ways environmental and social safeguards support inclusive, sustainable, and resilient development and solicited recommendations from the participants on ADB’s draft Environmental and Social Framework.
In his address to the Board of Governors, ADB President Masatsugu Asakawa outlined Asia and the Pacific region's growing challenges of climate change, conflict, food insecurity, and increased debt. He highlighted ADB's response, including $100 billion in new lending capacity.
The Asian Development Fund (ADF) is ADB’s largest source of grants for operations in its poorest and most vulnerable developing member countries and is replenished every four years.
ADB has been by Georgia’s side since 2007, supporting its vision to become a regional trade and logistics hub to further economic and social growth.
Climate-induced disasters are intensifying in Asia and the Pacific, affecting migration and causing economic strain. The need for effective adaptation strategies and international cooperation is urgent as remittances play a vital role in risk management.