BAKU, Azerbaijan, May 3. ADB is actively working to eliminate currency risks in member countries, ADB Executive Director for Australia, Azerbaijan, Cambodia, Cambodia, China, Georgia, Hong Kong, Kiribati, Federated States of Micronesia, Nauru, Palau, Solomon Islands, and Tuvalu Rachel Thompson said, TurkicWorld reports.
She made the remark during the panel discussion on the topic "Road ADB Development Map: Update to Strategy 2030" at the annual meeting of the Asian Development Bank (ADB) in Tbilisi.
"You're not going to solve the problem by taking an observational stance. And so I think at the heart of what we're trying to do with this interim review of our core corporate strategy is to identify how we, as an organization, are going to go beyond observing the problem and offer genuine solutions that will be transformative for the entire society of our member countries. I think one of the issues that would certainly be very meaningful to many member countries is thinking about how we can do more to help them deal with currency risk. I think we are beginning that process," she said.
Thompson also emphasized that ADB can do more to secure financing from other sources.
"We're thinking about how we can help member countries create more financial space to implement actions that are in line with their national plans and our strategic ambitions. Adaptation in particular will require grants, and I think that's an urgent request to Pacific member countries, who are the first to indicate that they are critically exposed to the challenges. I think there's more we can do as an institution to help get funding from other sources," she added.
To note, the theme of ADB's 57th Annual Meeting, which runs from May 2 to 5, is "Bridge to the Future".
The first meeting of the Board of Governors will be held on May 4. The opening session will mark the official start of the annual meeting. It is an event attended by distinguished guests from the host country. ADB President Masatsugu Asakawa and Lasha Khutsishvili, Minister of Finance of Georgia and Chairman of the ADB Board of Governors, will make statements.
The annual meeting is an opportunity for ADB Governors to address development issues and challenges facing the Asia-Pacific region. Several thousand participants regularly join the meeting, including finance ministers, central bank governors, senior government officials, representatives of the private sector, international and civil society organizations, youth, academia, and the media.
