Second Part to Be Held in Incheon in September
Deputy Prime Minister Hong Nam-ki presided over the first part of the 53rd Asia Development Bank (ADB) Annual Meeting on May 22, the Ministry of Economy and Finance said.
Hong is the chair of the board of governors of this year's ADB meeting, which was delayed from May to September due to the COVID-19 outbreak.
At the meeting, which was held virtually, ADB President Masatsugu Asakawa talked about the efforts the ADB has made to help developing countries combat the COVID-19 pandemic, including the US$20 billion relief package.
Hong appreciated ADB’s leading role in fighting the pandemic and suggested three challenges the ADB should focus on to overcome the current healthcare and economic crises and help return to the economic development path when the pandemic is over. The three challenges are:
-- Promote knowledge-sharing among ADB members to effectively overcome the pandemic
-- Expand support for low-income countries and households
-- Work to turn the crisis into an opportunity for innovation
The second part of the meeting will be held in September this year in Incheon, Korea. Most of the main events, including meetings and seminars of governors, and ministerial meetings, will be held in the meeting that will run from Sept. 18-21. The Ministry of Economy and Finance will work for the meeting to be a place for in-depth discussion on ways to overcome the COVID-19 crisis in the ASIAN region, it said.