Georgia is gearing up to host the 57th Annual Meeting of the Asian Development Bank (ADB) in May 2024, which will be the largest event of its kind in the country, with the participation of up to 4000 delegates from 68 countries.
The ADB is a regional development bank established in 1966, which aims to reduce poverty and promote social and economic development in Asia and the Pacific. The bank has 68 members, of which 49 are from the region.
Georgia has been a member of the ADB since 2007 and has received over $2.8 billion in loans, grants, and technical assistance from the bank as of December 20204 The bank’s operations in Georgia focus on transport, water supply and sanitation, energy, public sector management, and finance.
In 2022, Georgia joined the Association for International Development (IDA) donor countries on the 30th anniversary of its cooperation with the World Bank, and this year, it plans to join the ADB’s Asian Development Fund (ADF) platform as a donor organization.
In 2023, Georgia chaired the ADB’s Central Asia Regional Economic Cooperation (CAREC) program, which is a partnership of 11 countries and development partners working to promote regional economic cooperation and integration. During the year, Georgia successfully hosted various CAREC events, such as the 20th Ministerial Conference, the 10th Energy Ministers’ Dialogue, and the 9th Trade Ministers’ Meeting.
Finance Minister Lasha Khutsishvili said that hosting the ADB’s 57th Annual Meeting in 2024 will be a great opportunity for Georgia to showcase its achievements and potential, as well as to strengthen its ties with the bank and its member countries.
He also said that Georgia is committed to cooperating with the ADB and other international and bilateral partners to advance its development agenda and to support the region’s recovery from the COVID-19 pandemic.
The ADB’s Annual Meeting is the bank’s largest gathering, where its Board of Governors, senior management, staff, government officials, representatives of multilateral organizations, civil society, private sector, media, and academia exchange views on development issues and challenges.
The last Annual Meeting was held virtually in September 2020, due to the Covid-19 pandemic. The next Annual Meeting will be held in Colombo, Sri Lanka, in May 2022.
