TBILISI, Georgia, May 4. Asian Development Bank (ADB) aims to provide $100 billion in climate finance to developing member countries from 2019 to 2030, ADB Special Advisor on Climate Change Warren Evans said during the briefing at the ADB annual meeting in Tbilisi today, Trend reports.
“In 2023, ADB committed $9.8 billion in climate finance from its own resources - $5.5 billion for mitigation and $4.3 billion for adaptation. Our climate finance commitments for 2022 increased by more than 46 percent," he reminded.
Evans also highlighted the bank's recent initiatives to strengthen its climate work, which include creating a new operating model as well as updating its capital framework to allocate more climate finance.
The meeting of the Board of Governors started today. The opening marks the official start of the annual meeting. It is attended by distinguished guest from the host country.
To note, the theme of the 57th Annual Meeting, to be held May 2-5, is Bridge to the Future.
The Annual Meeting is an opportunity for ADB Governors to address development issues and challenges facing the Asia-Pacific region. Several thousand participants regularly join the meeting, including finance ministers, central bank governors, senior government officials, representatives of the private sector, international and civil society organizations, youth, academia, and the media.
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