Asia's Development Challenges- Major Topic at ADB Annual Meeting in Hyderabad
About 2,500 delegates are gathering at Hyderabad today for ADB's 39th Annual Meeting of the Board of Governors. The event brings together economic and finance planning senior government officials, ministers, academics, journalists, business people, investment bankers, and representatives of international organizations and non-government organizations. Hyderabad International Convention Center (HICC) – the venue of the high security meeting is claimed to be India’s largest convention centre.
Among the issues to figure prominently this year are the development challenges facing Asia in the face of global imbalances, India's - and South Asia's - role in a region that is rapidly integrating, and the Asia and Pacific region's massive infrastructure needs. ADB projects the region will achieve an overall economic expansion of 7.2% in 2006 and 7% in 2007. Delegates will be looking at how to address poverty and, how ADB can respond to the region's changing needs.
Seminar themes of the meet include Knowledge-Based Economies in the 21st Century, Transforming Asian Economies with E-Services, Asian Economic Integration, Infrastructure, and Sustainable Energy Development. Annual meetings are statutory occasions for the Governors of ADB members to provide guidance on ADB administrative, financial, and operational directions. It is ADB's second to be held in India, the first one was in New Delhi in 1990.
India, a founder member of ADB, is ADB's fourth biggest shareholder overall (behind Japan and the United States, and the People's Republic of China). ADB’s total lending assistance to India amounts to about $15.4 billion.