Asian Development Bank President Masatsugu Asakawa stated today at the opening of the ADB Board of Governors meeting that "no one should be deprived of development opportunities due to obstacles in accessing funding." He emphasized that the population of the Asia-Pacific region is facing challenges that require careful attention and coordination. The consequences of climate change are not abating, and the risks of conflicts and crises can quickly undermine people's means of livelihood.
Masatsugu Asakawa pointed out that threats related to climate change cannot be ignored. He highlighted the significant damages caused by glacier melting downstream and the severe impact of heat stress on workers, especially women, from fields to factories. He believes that the future depends on how we support people, industries, and ecosystems affected by the heat.
The ADB President stressed that global trade and supply chains are vulnerable to shocks. However, protectionism and segmentation cannot be the answer. Free trade and capital movement have benefited our region for decades and should be a step forward.
He called for exploring ways to deepen regional cooperation to enhance the resilience of supply chains, promote cross-border trade, stimulate private sector investments, and strengthen financial and tax partnerships. Additionally, he emphasized the importance of finding ways to decarbonize global supply chains.
"Our bridge to the future cannot leave behind those who need it the most. The poorest and most vulnerable population groups, including those in small island developing states, bear the heaviest burden of climate change, economic shocks, and conflicts. Our financing should continue to include concessional resources, grants. The Asian Development Fund has played a crucial role in this. We will be able to provide up to $5 billion to meet these needs," concluded the ADB President.
