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Shanghai Set to Host ADB
The city of Shanghai is busy preparing to host the 35th annual meeting of the board of governors of the Asian Development Bank, which will run from May 10 to 12.

An estimated 3,000 representatives from 60 countries and regions are expected to attend the meeting and seminars to be held on its sidelines from May 8 to 12.

The participants will include finance ministers, central bank governors, financial leaders and researchers. They will report on and discuss the bank's administrative, operational and financial directions.

Issues for discussion include development, poverty alleviation and recent global events, according to bank secretary Bindu Lohani.

"Shanghai has done an excellent job so far," he said.

Bank President Tadao Chino and other senior officials from the bank went on an inspection tour of Shanghai yesterday.

This will be the second time that China has hosted the meeting since the country joined the bank in 1986.

Beijing hosted the 22nd annual meeting in 1989.

Lohani said the bank chose Shanghai as the event's location is because of the city's excellent facilities and dynamic finance.

By the end of last year, the bank had provided China with loans worth US$11.3 billion - accounting for 17 per cent of the bank's total loans - for 91 projects. This made China the bank's second-largest borrower after India.

Twelve per cent of the bank's US$1.63 billion technical assistance has been poured into China.

Zou Jiayi of the Ministry of Finance said: "The ADB has made a great contribution to China's agriculture, forestry, water supplies, infrastructure, environmental protection, macroeconomic research, industrial studies and education."

(China Daily April 16, 2002)

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