Underscoring the need for more investments in infrastructure to support continued growth in Asia and the Pacific and combat climate change, the Asian Development Bank (ADB) President Takehiko Nakao on Saturday vowed that the ADB would continue to work together with its partners to build a more vibrant, inclusive and sustainable Asia and the Pacific.
"Today, we begin a new chapter in the history of ADB and the region. Building on our achievements of the past 50 years, ADB will continue to work together with our partners to build a more vibrant, inclusive, and sustainable Asia and the Pacific. I ask for your continued support," said the ADB President during the formal inauguration of the 50th Annual Meeting of the Board of Governors of ADB held at the Pacifico Yokohama Conference Center this morning.
Crown Prince of Japan Kotaishi Naruhito Shinno spoke at the inaugural session as the Guest of Honour while Deputy Prime Minister and Finance Minister of Japan Taro Aso also spoke.
The ADB President said Investment in infrastructure would remain a priority for ADB as the bank prepares a new long-term 'Strategy 2030' to respond to rapid regional changes.
Nakao said, "While the region has done remarkably well, we can't be complacent. Several challenges remain and new ones have emerged in Asia. About 330 million people still live in absolute poverty on less than $1.90 a day,"he added.
Noting that implementing the Sustainable Development Goals and the climate actions agreed at COP21 in 2015 are collective priorities for the Asian economies, the ADB President said, "We also face new challenges from urbanization, aging and widening inequalities,"