In his address to the Board of Governors, ADB President Masatsugu Asakawa outlined Asia and the Pacific region's growing challenges of climate change, conflict, food insecurity, and increased debt. He highlighted ADB's response, including $100 billion in new lending capacity and a new operating model (NOM) for tailored support to developing member countries, and reported $23.6 billion in commitments in 2023, with a record $9.8 billion for climate finance. 

Looking ahead, ADB plans to focus on climate action and private sector development, with new digital tools and regional programs for efficiency. President Asakawa expressed gratitude for pledges toward the Asian Development Fund's replenishment, ensuring support for the region's poorest countries. 

The Business Session, held as part of the 57th Annual Meeting of the ADB Board of Governors, was chaired by the Minister of Finance of Georgia, Lasha Khutsishivili.

The meeting is an opportunity for ADB shareholding governments to provide guidance to management and staff on administrative, financial, and operational issues. Over the years, ADB Annual Meetings have become a premier forum for the discussion of economic and social development issues in Asia and the Pacific.