ADB Holds 58th Annual Meeting of Board of Governors in Milan, Italy.
International
The 58th Annual Meeting (AM) of the Board of Governors of the Asian Development Bank (ADB) was held from May 4 to 7, 2025, at the Allianz MiCo-Milano Convention Centre in Milan, Italy.
- The event was organized under the theme "Sharing Experience, Building Tomorrow".
- Masato Kanda, President of ADB, formally inaugurated the 58th Annual Meeting.
Main Point :- (i) Nirmala Sitharaman, Union Minister of Finance and Corporate Affairs, led the Indian delegation comprising officials from the Department of Economic Affairs (DoEA), Ministry of Finance (MoF).
(ii) ADB committed USD 5 billion to India in 2024 through loans, grants, and other forms of assistance.
(iii) The ADB’s Board of Governors approved the 2024 financial statements, registering a record net income allocation of USD 1.539 billion, the highest ever in ADB’s nearly 60-year history.
About ADB
President: Masato Kanda (Japan)
Headquarters: Manila, The Philippines
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