TBILISI: Cooperation with ADB has ensured great progress in overcoming challenges in member countries, Georgian Finance Minister and Chairman of the ADB Board of Governors, Lasha Khutsishvilii, said during the opening ceremony of the ADB Board of Governors meeting held in Tbilisi on May 4, Trend reports.
“This meeting frames the spirit of the global path to be taken by the governments and multilateral development banks (MDBs) to address the unprecedented challenges of the modern world related to geopolitics, climate change, equality and other sustainable development goals, as well as Georgia’s aspiration to position itself as a meeting point to Europe and Asia. We are hosting this event cherishing and valuing highly our role in the Middle Corridor,” he said.
The minister pointed out that the cooperation with ADB and its support has made significant change in the countries of cooperation.
“But the challenges remain and are among the most complex and diverse ones, and the bank’s role is even more important t
o help the countries of cooperation to address them. The ADB is a reliable partner for Georgia and each and every one of you. Since joining the bank in 2007, Georgia has made significant progress. We have just joined the ADF in an effort to repay back with gratefulness for the support that we received in our early days of cooperation,” Khutsishvilii said.
“Our policy priorities in this challenging environment continue to be ensuring market stability and to mitigate negative impacts of low-term sustainability. While being prudent and committed to fiscal consolidation, we are oriented to increase the capital investment for the low potential, introduce structural reforms and ensure a trans-regional connectivity,” he concluded.
The opening session of the Asian Development Bank (ADB) Board of Governors has kicked off in Tbilisi. The Opening Session marks the official start of the Annual Meeting. It is a high-profile event attended by the Guest of Honor from the host country.
The theme for the 57th Annual Meetin
g to be held from May 2 through May 5 is ‘Bridge to the Future.’
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.
Source: Trend News Agency