The Philippine Government led by the Department of Finance, officially partnered with the Management Association of the Philippines (MAP), to be the host country of a prestigious occasion, the 45th Annual Meeting of Asian Development Bank (ADB) Board of Governors. It will be held on May 2 to 5 of this year at the Philippine International Convention Center (PICC).
In 1966, ADB was established as a major source of development financing for the Asia and Pacific region. It is a multilateral development finance institution that is involved in mostly public sector lending for development purposes. It aims to focus on delivering projects that produce economic and development impact. Their headquarters is based in Manila, Philippines. They have 67 shareholding members of the United Nations and offices in 26 countries across Asia and Pacific region as well as representative offices in Washington DC, Frankfurt, Tokyo and Sydney.
ADB Annual meetings are statutory events for Governors of ADB members to deliver proper guidance on its administrative, financial and operational directions. It is held in a member country in late April or early May. The participants are the finance and economic planning ministers, senior government officials, representatives of the multilateral development bank community, investment bankers, representative of nongovernment organizations (NGOs) and members of the media news.
The Manila 2012 will focus on Asia's response to the global economic crisis. The panel discussion will cover the new models from the green growth in the region, how to protect vulnerable cities, how to deliver financial services to the world's poor and how to feed the world in a generation of growing demand for food and fuel. ADB will also discuss possible reforms to make loans more accessible to member nations.
Almost a decade ago, Philippines hosted one of the annual meetings and now, it takes pride in hosting this high-level gathering again. It is a big break for the country, an opportunity to exhibit the best of Filipino culture and tradition, and to show the changes it has implemented for a better economy and the progress it has achieved.
Today, ADB and the Government continue to promote good governance, which is essential in making an Asia and Pacific free from poverty. "Inclusive Growth through Better Governance and Partnership".