The 57th annual meeting of the Asian Development Bank ends on 5 May 2024. The meeting goes for four days from 2 to 5 May 2024 in Tbilisi, the capital city of Georgia.
In a significant development, ADB and other donors agreed to finance the Asian Development Fund. The a ssistance will the in the amount of 5 billion US Dollars. This financial assistance from the Asian Development Fund will help the member countries of the ADB.
While sharing the information about the conclusion of the meeting on the official Facebook page of the Asian Development Bank Georgia stated that “we at this meeting explored the infinite possibilities of the artificial i ntelligence to address the multilevel development challenges in the field of the agriculture and climate as well as the growing threat of the global warming.”
The other important issues that were discussed during the meeting included the severe effects of heat on health, productivity and infrastructure, food supply, women, the elderly, and other vulnerable sections of the population.
It is worth mentioning that the development fund is the largest s ource of grants. These grants are given to the poorest and the most vulnerable development member countries of the ADB.
Speaking on the occasion the president of the Asian Development Bank Masatsugu Asakawa stated that “these financial assistance in the form of grants are the very important source of the help. Moreover, this is also very significant to reverse the development setback and take urgent action to tackle climate change.
He further said, “This remarkable replenishment of the development fund of the bank demonstrates ADF donors’ continued partnership with ADB to address the pressing development challenges of those most in need.”
The ADB 14 will continue to play a critical role in supporting climate change and disaster risk reduction. This will expand the financial assistance for regional cooperation as well as regional public goods.
