Milan, May 5, 2025 /MONTSAME/. The 58th Annual Meeting of the Asian Development Bank (ADB) under the theme, “Sharing Experience, Building Tomorrow,” began in Milan, the Italian Republic, on May 4, 2025.

President of the ADB Masato Kanda held a press briefing for media representatives and presented ADB’s additional financing to bolster food security in the region. ADB’s initiative to Support Food Security grew from USD 14 billion in 2022, to USD 40 billion for 2026-2030. 

ADB President Masato Kanda opened the press briefing, noting, “I’m pleased to welcome over 5,000 participants to this Annual Meeting, which is an opportunity for us to share insights on how to solve Asia’s complex challenges together. Let me take this opportunity to thank the Government of Italy and the people of Milan for their outstanding hospitality in hosting us over the next four days.

The economy of Asia and the Pacific is coming from a position of strength, but there is a lot of uncertainty ahead. This means Asia cannot be complacent. In these challenging times, ADB remains a steadfast partner. As ADB President, I am committed to supporting our Members in building resilience against economic shocks, fostering sustainable growth, creating jobs, and improving the lives of the poor and most vulnerable. We are also launching a USD 150 million Natural Capital Fund, backed by the Global Environment Facility and with expected support from others, to drive investments that protect and restore nature as a foundation for food security.

Together with our partners, we are building food systems that feed people, sustain livelihoods, and protect our planet. Thank you." 

ADB President Kanda underlined that in this growing economic uncertainty and growing price of commodities, food security is crucial especially for the most vulnerable parts of society. 

Following President Kanda’s press briefing, Senior Director for Agriculture, Food, Nature, and Rural Development Sector Office of the ADB Qingfeng Zhang underlined the five key components including Agricultural Development and Value Chains, Environment and Natural Resources, Infrastructure and Food Systems, Social Assistance including Emergency Responses, and Nutrition and Health. The Senior Director emphasized that the fight against climate change would be more effective with all the stakeholders’ efforts combined. 

During the Annual Meeting on May 4, 2025, a session "Conversation with President Kanda" was held, where ADB President Masato Kanda discussed the economic outlook for Asia and the Pacific, including food systems transformation, digital transformation, frontiers of the energy revolution, and innovation for resilience. This event was moderated by International Journalist Nisha Pillay. Participants learned more about Masato Kanda, who was elected President of the ADB 75 days prior to the Annual Meeting, his achievements and vision for the development of Asia and the Pacific.

On the same day, a meeting “Catalyzing Private Sector Development in Asia and the Pacific: What Role for Multilateral Development Bank” was held, with panelists Deputy Prime Minister of Mongolia Dorjkhand Togmid, Prime Minister of Tonga and Minister of Finance Aisake Valu Eke, President of the ADB Masato Kanda, President of the European Investment Bank Nadia Calvino, and Governor of the Council of the Europe Development Bank Carlo Monticelli, moderated by International Broadcaster and President of the SOAS Zeinab Badawi. The panelists discussed the roles of multilateral development banks in supporting the private sectors of emerging markets, along with issues and possibilities.

Deputy Prime Minister of Mongolia Dorjkhand Togmid noted that Mongolia has enormous potential for clean and renewable energy and that the MDBs’ support for the private sector in the country would be crucial in opening the untapped potential, which would not only be beneficial to Mongolia, but the region as a whole. 

President of the European Investment Bank Nadia Calvino stated, "The EIB cooperated with the public sectors of many Asian countries. In 2024, 50 percent of investments in Asia aimed at supporting the private sector. The EIB has been very active in providing loans, equity finance through international investment funds, and guarantees. Also, data is crucial in knowing the likelihood of default or losses, which is extremely important for mobilizing private investment in some countries. As MDBs, working together we can truly multiply the impact on the ground, together we are stronger. On behalf of Europe, the EIB will stay the course, support the multilateral order, and deepen its partnership with countries and multilateral institutes, for the benefit of the people and businesses of the world."

The Annual Meeting is an opportunity for ADB shareholding governments to provide guidance to management and staff on administrative, financial, and operational issues.