Economy

India, ADB to commemorate25 years of partnership

India and the multilateral lending agency Asian Development Bank (ADB) will join hands to commemorate 25 years of partnership at a forum that will discuss Asia's remarkable growth and the challenges that still needs to be overcome to realise its full economic potential.

At the ‘Eminent Persons' Forum' to be held on October 17 here, the highlight of the India-ADB commemorative celebration will be the addresses by Finance Minister Pranab Mukherjee and ADB President Haruhiko Kuroda. Finance Ministers of the Philippines and Malaysia will also participate in a panel discussion on the theme ‘Realising the Asian Century'.

The day-long function jointly organised by the Indian government and the ADB will also include launch of two publications that showcase development projects initiated by both partners, the Finance Ministry said in a statement.

According to DEA (Department of Economic Affairs) Joint Secretary Venu Rajamony, who oversees the work of ADB and other multilateral development agencies in India, the event is an effort to bring to Delhi some of the best minds in Asia and to discuss the future of Asia.

ADB's India Resident Mission Director Hun Kim said the twin challenges of sustaining growth and making sure it is inclusive were actually quite intimately related. He noted that expanding the ranks of the middle-class, while ensuring at the same time that economies do not get stuck in a ‘middle income trap', are key challenges for developing Asia.


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Printable version | Oct 25, 2021 2:02:00 PM | https://www.thehindu.com/business/Economy/india-adb-to-commemorate25-years-of-partnership/article2529062.ece

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