The Asian Development Bank (ADB) is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. It assists its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
Fiji will become the first Pacific developing member country (DMC) of the Asian Development Bank to host its 52nd annual meeting in 2019.
While the final decision will be finalised by ADB Governors on Saturday, the President of the multilateral lending agency, Takehiko Nakao announced to Pacific DMC leaders here in Yokohama Wednesday that Fiji will host the ADB meeting in two years, after Manila in 2018.
“The annual meeting in Fiji will truly be a historic occasion as it will be the very first ADB Annual Meeting hosted by a Pacific developing member country. The Annual Meeting in Nadi will be an opportunity to emphasise that development needs in the Pacific are unique, said the President Nakao ahead of the Saturday meeting.
“As we begin our journey to Nadi together, our longstanding partnership will continue to be a source of strength, inspiration, and support for the Pacific, and for its people.”
Speaking to Pacific journalists in Yokohama, the head of ADB’s Pacific Department, Xianbin Yao confirmed Fiji’s successful bid saying the decision is ‘unprecedented’ representing the growing importance of the Pacific in the overall operation of the ADB.
“Fiji hosting the annual ADB meeting is the first ever even among other multilateral development banks (MDBs). Never been done by the International Monetary Fund and the World Bank.