MILAN, Italy, May 5. We are at a critical juncture in history and there is no textbook for this situation, said President of the Asian Development Bank (ADB) Masato Kanda, addressing the opening session of the ADB Board of Governors in Milan, Italy, today, Trend correspondent reports.
“We must recognize that we don't have all the answers. But we are not starting from zero. Growth remains solid, driven by strong domestic demand. Trade and economic integration are deepening, not only within the region but with key partners here in Europe and around the world. Supply chains are diversifying. Digital connectivity is accelerating. And innovation is thriving,” he said.
Kanda noted that Asia and the Pacific is rich with potential.
“With the right actions, we can ensure that this potential
translates into lasting progress.
Uncertainty is not a reason for retreat. It is a call for action.
It challenges us to be bolder, to move faster, and to work more
closely than ever before.
We must seize the opportunity to transform lives and build a
brighter future for the next generation. To chart a path forward,
we must solve these challenges with clarity and determination,”
noted the ADB president.
He said ADB sees four areas as being key to driving transformational change.
“First, the vulnerability of our food systems demands urgent action. The pandemic, droughts, floods, and global disruptions threaten food security and have pushed millions of people toward poverty and hunger.
Second, the digital divide is leaving millions behind. While technology can improve access to education, finance, markets, and public services, too many people remain disconnected from the digital economy.
Third, the need for sustainable energy systems is more urgent than ever. Growing economies require stable, clean, and affordable energy to power their development.
Fourth, the impacts of rising sea levels, water scarcity, extreme heat, and severe weather conditions are reversing hard-won development gains. Building resilience to the changing climate requires developing new approaches, solutions and financial products, to protect women, the poor, and the most vulnerable,” he said.