National leaders representing the members of the lending institutions will be flying to Manila this week.
The Philippine Government is set to host the conduct of the 55th Annual meeting of the Asian Development Bank with the theme Positioning Climate Resilient Green Economy for the Post COVID-19 World. The Secretary of Finance is the Governor for the Philippines in the ADB, while the BSP Governor is the Alternate Governor in the same. The ADB conducts an annual meeting of its Board of Governors (BOG) comprised of several high-level events as well as forums at the sideline. Overall, these annual ADB events have become a premier forum for the discussion of economic and social development issues in Asia and the Pacific.
The first stage was held on 5 May 2022 and comprised of a virtual, reduced-scale meeting of the BOG which was attended by then Secretary of Finance Carlos G. Dominguez. The said meeting enabled the BOG to discuss ADB’s financial statements and net income allocation in line with ADB institutional requirements.
Meanwhile, the MMDA has issued an advisory on the traffic route during the event.