Asian Development Bank (ADB) president Masatsugu Asakawa delivers his address at the opening session of the 57th Annual Meeting on May 4, Tbilisi, Georgia. Photo by Sam Rith
In a compelling address at the 57th Annual Meeting of the Asian Development Bank (ADB), ADB president Masatsugu Asakawa described the urgent need to “build a bridge to a better future” for the Asia-Pacific region.
The meeting, held in Tbilisi, Georgia, brought together delegates from around the globe to discuss pressing issues and chart a path towards inclusive, resilient, and sustainable development.
Asakawa began his speech by expressing his gratitude to Prime Minister Irakli Kobakhidze and the people of Georgia for their warm hospitality. He reminisced about his own time in Georgia, where he experienced the country's stunning landscapes and the Georgian tradition of toasting, which left a lasting impression on him.
The ADB president emphasised the evolving nature of development in the face of challenges posed by climate change, conflicts, and other crises.
He stressed that “development cannot afford to stand still but requires a proactive approach to address the realities before us and prepare for future challenges”.
One of the key challenges he highlighted was the threat of climate change. He noted the record-breaking temperatures of 2023 and the devastating effects felt across various sectors.
From vulnerable crops and melting glaciers to the health impacts on workers, he explained that heat stress poses a grave risk to food security, infrastructure, water resources, health, employment and equality. Asakawa called for concerted efforts to build resilience and support those affected by heat stress.
Addressing the digital divide, he emphasised the need to harness the potential of Artificial Intelligence (AI) for inclusive growth.
“While AI offers tremendous opportunities in healthcare, agriculture, and climate change, developing countries must not be left behind. The ADB is committed to assisting member countries in deploying responsible AI solutions that follow an ethical framework and drive inclusive growth,” he said.
Asakawa also underscored the importance of driving green globalisation. Despite global challenges such as the Covid-19 pandemic and geopolitical tensions, he rejected the notion that globalisation is dead. He emphasised the benefits of free trade, the free movement of capital, and the interconnectedness of our world.
He called for deeper regional cooperation on the building of resilient supply chains, the promotion of cross-border trade, private sector investment, and enhanced financial and tax cooperation.
Furthermore, he called for concerted efforts to decarbonise global supply chains, recognising the role of trade-related activities in contributing to carbon emissions.
Finally, the ADB president emphasised the importance of supporting those with the greatest need.
He highlighted the plight of the poorest and most vulnerable populations, particularly in small island developing states, who bear the heaviest burdens from climate change, economic shocks, and conflict.
He expressed gratitude for the support received from donors and stressed the continued need for concessional financing, including grants, to ensure that no one is denied the benefits of development due to financial barriers.
In conclusion, Asakawa invited participants to engage in meaningful discussions on these critical topics and others that are instrumental in shaping the future of the Asia-Pacific region.
He encouraged each of the delegates to appreciate the beauty of Tbilisi and Georgian culture while forging connections and fostering friendships. With a toast to a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, president Asakawa set the stage for collaborative efforts to build the bridge to a better future.
