INCHEON, REPUBLIC OF KOREA (5 May 2023) — The Asian Development Bank (ADB) has announced Tbilisi, Georgia, as the host of its 57th Annual Meeting to be held from 2 to 5 May 2024.
This will be the first time for Georgia to host ADB’s Annual Meeting.
The Annual Meeting is an opportunity for ADB Governors to consider development issues and challenges facing Asia and the Pacific. Several thousand participants, including finance ministers, central bank governors, senior government officials, members of the private sector, representatives of international organizations and civil society organizations, youth, academia, and the media, regularly join the meeting.
“Georgia is a vibrant hub for regional trade—and a crucial bridge between Asia and Europe,” said ADB President Masatsugu Asakawa. “The 2024 Annual Meeting will provide an important opportunity to showcase the country’s rich heritage and tremendous potential.”
“The slogan we’ve chosen for the 57th ADB Annual Meeting represents the need of synergy regionally and globally so that after Recovering, Reconnecting and through the Reforms, we can jointly build the Bridge to the Brighter Future,” said Georgia Finance Minister and ADB Governor Lasha Khutsishvili.
The theme for the 57th Annual Meeting is “Bridge to the Future”. The theme of the 56th Annual Meeting is “Rebounding Asia: Recover, Reconnect, and Reform”.
ADB began its partnership with Georgia in 2007 and is one of the country’s largest multilateral development partners. ADB has committed 82 public sector loans, grants, and technical assistance for Georgia for a total of $3.9 billion. Its ongoing sovereign portfolio in Georgia includes 17 loans worth $1.75 billion.
ADB will continue to help Georgia respond to growth uncertainties arising from geopolitical developments and climate-related risks while helping facilitate the private sector’s more active role in the economy. The bank will seek to finance climate-resilient solutions in water resource management, irrigation, urban transport, and infrastructure to boost green energy exports to neighboring countries.
The bank will help unlock Georgia’s potential for agribusiness, tourism, and regional trade, and address unemployment and growing skills gaps. ADB investments will incorporate gender equality, green development, and innovation as key elements of business sector development including a clearer rationale for the full commercial viability of state-owned enterprises.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.