BAKU, Azerbaijan, May 6. The Asian Development Bank (ADB) is developing plan for new sustainable lending level to address climate change, ADB Vice President for Sectors and Themes Fatima Yasmin said during panel discussions on the topic "Achieving Climate Outcomes for Transformation" within the ADB annual meeting in Tbilisi on May 4, TurkicWorld reports.
She said the ADB focuses on liquidity support, aid resilience, key urban regions, private investments, fair financial institution governance, and ecological and fair trade changes.
"The ADB's reform program includes a new operating model to support developing countries faster and more actively. In 2023, we implemented a new operational model that prioritizes climate change and private sector development to make the ADB more effective and responsive to its stakeholders.
To implement changes in climate action, at COP28 we presented the ADB's Climate Action Plan for 2023-2030, which paves the way for accelerating regional climate action and assisting in achieving improved climate outcomes.
Let me share with you a few examples of our actions outlined in the ADB's Climate Action Plan. By supporting countries in debt restructuring, the ADB enhances financial opportunities to support countries' climate action.
We are now developing a plan to achieve a new sustainable level of lending through high-quality support, meeting the needs of our developing member countries," Yasmin added.
To note, the theme of the 57th ADB Annual Meeting in Tbilisi, which runs from May 2 through May 5, is "Bridge to the Future."
The annual meeting provides ADB governors with a platform to address developmental issues and challenges confronting the Asia-Pacific region. The event typically attracts several thousand participants, including finance ministers, central bank governors, senior government officials, private sector representatives, members of international and civil society organizations, youth, academics, and media personnel.
