(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 6. The Asian DevelopmentBank (ADB) is developing plan for new sustainable lending level toaddress climate change, ADB Vice President for Sectors and ThemesFatima Yasmin said during panel discussions on the topic "AchievingClimate Outcomes for Transformation" within the ADB annual meetingin Tbilisi on May 4, Trend reports.
She said the ADB focuses on liquidity support, aid resilience,key urban regions, private investments, fair financial institutiongovernance, and ecological and fair trade changes.
"The ADB's reform program includes a new operating model tosupport developing countries faster and more actively. In 2023, weimplemented a new operational model that prioritizes climate changeand private sector development to make the ADB more effective andresponsive to its stakeholders.
To implement changes in climate action, at COP28 we presentedthe ADB's Climate Action Plan for 2023-2030, which paves the wayfor accelerating regional climate action and assisting in achievingimproved climate outcomes.
Let me share with you a few examples of our actions outlined inthe ADB's Climate Action Plan. By supporting countries in debtrestructuring, the ADB enhances financial opportunities to supportcountries' climate action.
We are now developing a plan to achieve a new sustainable levelof lending through high-quality support, meeting the needs of ourdeveloping member countries," Yasmin added.
To note, the theme of the 57th ADB Annual Meeting in Tbilisi,which runs from May 2 through May 5, is "Bridge to the Future."
The annual meeting provides ADB governors with a platform toaddress developmental issues and challenges confronting theAsia-Pacific region. The event typically attracts several thousandparticipants, including finance ministers, central bank governors,senior government officials, private sector representatives,members of international and civil society organizations, youth,academics, and media personnel.
Stay up-to-date with more news at Trend News Agency'sWhatsApp channel
MENAFN06052024000187011040ID1108176480
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.