S. Korean finance chief to chair ADB's annual meeting next year

SEOUL, Sept. 30 (Yonhap) -- South Korean Finance Minister Choo Kyung-ho has been elected as chair of next year's annual meeting of the Asian Development Bank (ADB), his office said Friday.

Choo took over the chairmanship for next year's ADB annual gathering set to be held in May 2023 in Songdo, west of Seoul, during this year's meeting in Manila earlier this week, according to the finance ministry.

The 2023 meeting will be the third time for South Korea to host a face-to-face annual ADB meeting.

In Manila, Choo said in a speech Thursday that the primary task of the member nations is to restore the economic cooperation and unity in the region which have been affected by the COVID-19 pandemic over the past couple of years.

He also called for the active participation of private entities in their financing moves to meet growing demand for large-scale development projects, including their targeted US$100 billion worth of climate financing by 2030.

This year's meeting, which was held from Monday through Friday, was attended by finance ministers, central bank chiefs and related officials from its 68 member countries, according to the ministry.

The Manila-based ADB is a multilateral development bank established in 1966 to support economic and social development of developing countries in the Asia-Pacific region.

graceoh@yna.co.kr
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