ADB President Visits Germany to Discuss 2016 Annual Meeting in Frankfurt

FRANKFURT, GERMANY, Nov. 11 (NsNewsWire) — Asian Development Bank (ADB) President Takehiko Nakao wrapped up a visit to Frankfurt and Berlin today, where he discussed with senior officials deepening ADB’s partnership with Germany and thanked the country for hosting ADB’s 49th Annual Meeting in May 2016.

During the 4-day visit from 7 to 10 November, the ADB President met with Hans-Joachim Fuchtel, Parliament State Secretary and Chair of ADB’s Board of Governors, and Gerd Mueller, Minister for Development Cooperation. He also gave a lecture at the House of Finance at Frankfurt University and visited Messe Frankfurt, venue of the Annual Meeting.

“We are very much looking forward to ADB’s Annual Meeting in Frankfurt which will be the first to be held in Germany, and will bring together representatives from across ADB’s 67 members,” said Mr. Nakao. “It will discuss Asia’s economic outlook, its development challenges and opportunities, cooperation between Europe and Asia, and how ADB can better meet the changing needs of the region.”

He also mentioned “The Annual Meeting will showcase ADB’s strong partnership with Germany.” Under the theme of “Cooperating for Sustainability,” the Annual Meeting will provide an opportunity to share Germany’s experiences in areas such as climate change, smart cities and renewable energy, vocational training, and the promotion of small- and medium-sized enterprises.

The Annual Meeting will be held from 2-5 May 2016 and is expected to attract 3,000 participants, including finance ministers, central bankers and other senior government officials, as well as representatives of international organizations, civil society and youth, the private sector, academia, and the media. Online registration opens in January.

As a founding member, Germany is ADB’s ninth largest shareholder, and the fifth largest donor to the Asian Development Fund, ADB’s concessional financing facility for poor developing member countries. Germany has also been an active cofinancier of ADB projects with contributions between 1970 and 2014 of $972.63 million for 15 projects, mostly through KfW.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members—48 from the region. In 2014, ADB assistance totaled $22.9 billion, including cofinancing of $9.2 billion.