Asian Development Bank President: ADB “ready to continue close cooperation” with Georgia

Masatsugu Asakawa, the President of the Asian Development Bank, on Thursday said the ADB was “ready to continue close cooperation” with Georgia in comments at the Annual Central Asia Regional Economic Cooperation Ministerial Conference in the Georgian capital city of Tbilisi. 

We are ready to continue working closely with Georgia, since it strengthens social services and expands transport networks, as Georgia's role in the development of the Middle Corridor actually increases”, he said in reference to a transportation route network connecting China with Europe through the South Caucasus region.

Asakawa added the ADB “strongly” supported its members, including Georgia, in collective action to mitigate and adapt to climate change. 

New initiatives are needed and we are ready to support them. The regional cooperation initiative is the main part of our charter. This is one of the main goals of our activity. So, we would like to support the activities of the CAREC Programme in this direction with strong enthusiasm”, he said.

Irakli Garibashvili, the Prime Minister of Georgia and Masatsugu Asakawa, the ADB President. Photo: PM's press office

The ADB President shared worries about challenges facing CAREC partner countries, noting “increasing uncertainty” due to geopolitical tensions and changing supply chain resilience. 

As a result, energy and food security are at risk. At the same time, transport and trade routes are changing. Climatic shocks have also become more frequent and intense. No country can solve these challenges alone”, the Bank representative said.

Asakawa noted “decisive effort” for tackling the climate crisis and importance of bridging the “financial gap” as elements that would strengthen “joint work”.

I hope we can make real progress on regional project support initiatives that are focused on tackling climate change, diversifying our economy, strengthening supply chains and sustainability. Our ambition is to fund a total of $100 billion for climate change efforts between 2019 and 2030”, he said and also promised the ADB would support capital reforms.

Asakawa thanked the Georgian Government for hosting the Conference and noted next May they would also host the annual meeting of the ADB.