MILAN, Italy, May 5. Switzerland expects the Asian Development Bank (ADB) to stay the course on its climate ambition, Dominique Paravicini, Governor of ADB from Switzerland said, addressing the business session of ADB Governors, Trend’s special correspondent reports from Milan.
“Building climate resilience and supporting countries in their
energy transition is crucial to drive sustainable development in
the region.
We commend ADB on its achievements to date as the region’s climate
bank. The bank must now deploy its additional lending headroom
towards high-quality, impactful and environmental, social and
governance-compliant projects that support the climate transition,”
he said.
Further, Paravicini said Switzerland supports ADB’s private sector shift.
“We welcome ADB’s efforts to scale up private capital mobilization through non-sovereign operations serving the changing client landscape in the Asia and Pacific region, while ensuring additionality of its interventions. This needs to go hand in hand with a strong commitment to improve the enabling environment for private investments, adopt a “One ADB” approach and deepen the synergies between sovereign and non-sovereign operations.
Switzerland welcomes the ADB’s ambition to deliver faster, better and bolder against the backdrop of high uncertainty and persistent global and regional challenges. We appreciate ADB’s enhanced strategic focus under Strategy 2030 and increased lending headroom,” he noted.