FS meets ADB President

Financial Secretary Paul Chan arrived in Georgia yesterday afternoon for the 57th annual meeting of the Board of Governors of the Asian Development Bank (ADB), which runs until May 5, and met the bank’s President Masatsugu Asakawa.

They exchanged views on various issues including the region’s green transition, climate finance and infrastructure development, as well as strengthening co-operation between Hong Kong and the ADB.

Responding to climate change is one of the themes of this year’s and Mr Chan stressed that as an international financial centre, Hong Kong is a leader in Asia in green and sustainable finance. He highlighted that Hong Kong accounts for over one-third of all the green bonds issued in Asia.

He added that Hong Kong continues to enrich its variety of green financial products, which channel funds to projects that support the region’s green transition.

Mr Chan stressed that Hong Kong has long maintained a relationship of cordial co-operation with the ADB, and is willing to share knowledge and collaborate with the bank and other regional partners, particularly in the areas of finance, infrastructure development and innovative technology applications.

He also invited the bank and regional partners to make use of Hong Kong’s fundraising platforms and professional services to support the roll-out and management of different projects.

The Financial Secretary later attended a pledging meeting of the Asian Development Fund.

He said Hong Kong has supported replenishments of the fund over many years, with a view to helping developing member countries carry out sustainable development projects, which include projects that respond to climate change, promote gender equality, and advance social development.

Hong Kong will continue to contribute to the region's development and progress, he added.