ADB governors to discuss impact of global financial turmoil on Asia

Business Materials 10 January 2012 15:13 (UTC +04:00)

Azerbaijan, Baku, Jan.10 / Trend, A.Akhundov /

The 45th Annual Meeting of the Asian Development Bank's Board of Governors will be held in Manila (the Philippines) on May 2-5, 2012, the bank's official website reported on Tuesday.

"This is the 15th ADB Annual Meeting to be held in the Philippines, where ADB is headquartered," the report says.

About 4,000 participants including finance ministers, central bank governors, senior government officials, and representatives from the private sector, academe, media, and civil society are expected to attend.

Governor from Azerbaijan in the bank is Economic Development Minister Shahin Mustafayev, while alternate governor - Finance Minister Samir Sharifov.
The theme of the 2012 Annual Meeting is inclusive growth through better governance and partnerships.

Seminars will discuss the impact of global financial turmoil on Asia; new opportunities for growth in Asia; the role of key emerging economies in ASEAN, People's Republic of China, and India; regional trade and financial integration; urban disaster risk management; climate change; and food security.

The ADB was founded in 1966 and has 67 members.

Azerbaijan became a member of the Asian Development Bank on Dec. 22, 1999. The country's participation share in the bank's capital is 0.5 percent.

Japan and the U.S. (31.2 per cent of the total share capital), India and China (12.8 percent), Australia, South Korea and Canada (16 percent) are the ADB leading shareholders.