FINANCIAL CHRONICLE — Masato Kanda, President of the Asian Development Bank (ADB), emphasized the importance of regional cooperation to enhance collective resilience amidst ongoing global economic challenges.
During a series of meetings in Washington, Kanda remarked, “The conflict in the Middle East has posed significant challenges to the global economic landscape, with Asia and the Pacific bearing the brunt of the impact.” He underscored the necessity of maintaining economic activities, fortifying domestic markets, and fostering regional partnerships to enhance resilience. “The ADB is prepared to offer its support,” he stated.
Kanda spearheaded discussions aimed at bolstering collaboration for resilience during the Multilateral Development Bank (MDB) Heads meeting. The agenda included topics such as promoting private sector growth, collaborating on critical resources like minerals and water security, and enhancing operational effectiveness through shared reliance and a unified Value for Money procurement framework, according to ADB.
At the World Bank-IMF Joint Ministerial Development Committee, Kanda concentrated on addressing global uncertainties and providing financial assistance to mitigate economic repercussions. He addressed the impacts of geopolitical disruptions on the Asia-Pacific region, particularly highlighting the increases in fuel, shipping, and financing costs. At the Council on Foreign Relations, he noted that the ADB is responding swiftly and effectively to stabilize economies through immediate budgetary support and expanded trade finance initiatives. (Colombo/Apr20/2026)
