FS meets Asian Development Bank President in Japan (with photos)
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     The Financial Secretary, Mr Paul Chan, today (May 5) met with the President of the Asian Development Bank (ADB) and the Chairperson of the ADB's Board of Directors, Mr Takehiko Nakao, and other ADB senior officials during the 50th Annual Meeting of the ADB in Yokohama, Japan.

     At the meeting, Mr Nakao highlighted the importance of infrastructure investment in sustaining the fast development of Asia. In its latest study, the ADB estimates that developing Asia would need to invest US$1.7 trillion annually until 2030 to maintain growth momentum, reduce poverty and address climate change. Mr Chan pointed out that the Infrastructure Financing Facilitation Office established under the Hong Kong Monetary Authority last year is working with key stakeholders including investors, banks and the financial services sector in providing a platform for information exchange and experience sharing, thereby facilitating infrastructure investments and their financing.

     Mr Chan also had separate meetings with Director Mr Mathew Fox, who represents Hong Kong's constituency on the ADB Board of Directors, as well as Director Mr Cheng Zhijun, who represents the constituency of China. They exchanged views on the ADB's future work.

     Mr Chan then paid a courtesy call on the Vice Minister of Finance, Mr Shi Yaobin, who is also attending the ADB Annual Meeting, and discussed issues of mutual interest.

     Since the 1960s, Hong Kong has been a member of the ADB, which is a multilateral development financial institution aimed at helping developing member economies to reduce poverty and improve the quality of life of their people. With over 60 members now, the ADB Annual Meeting provides a forum for discussion of economic and social development issues in Asia and the Pacific.

     Tomorrow (May 6), Mr Chan will continue to attend the ADB's Annual Meeting and meet with other senior officials attending the meeting.

Ends/Friday, May 5, 2017
Issued at HKT 17:30

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