in

S. Korea urges ADB to step up efforts for transformation in post-pandemic era

SEJONG, Sept. 18 (Yonhap) — South Korea’s finance minister called Friday called for the Asian Development Bank (ADB) to take a leading role in green and digital transformation in a post-pandemic era.

Finance Minister Hong Nam-ki made the remarks during an online conference of ADB members earlier in the day, the ministry said in a statement.

Hong emphasized that the Asia-Pacific region must promote a “green and digital transformation to cope with the COVID-19 and climate change,” according to the statement.

Throughout the transformation, the region could create jobs and achieve its goals of economic recovery from the pandemic, Hong said.

In a separate speech, ADB President Masatsugu Asakawa said the regional lender is committed to joining hands with developing economies in Asia and the Pacific to help the region’s economies recover from the pandemic.

“ADB will continue to earn your trust as a steadfast partner during the uncertain times we still face in our region as we build for a strong and lasting recovery,” Asakawa said.

In April, the ADB pledged a US$20 billion package to help its developing members address COVID-19. So far, ADB said it has committed about $11.2 billion in financial and technical assistance to fight the pandemic.

Meanwhile, the ADB formally endorsed a plan by South Korea to host 56th annual
meeting of the ADB in the western port city of Incheon in 2023.

Reference