In this seminar, panelists addressed three important questions, including whether developing Asia prepared for economic recovery, what principles can help ensure that recovery is sustainable and climate-resilient, and what role can ADB and other development partners play in supporting recovery objectives.
Two years into the COVID-19 pandemic, developing Asia is at a crossroads. While encouraging progress has been made in addressing the pandemic’s impacts, significant downside risks remain and continue to grow. Diverging growth and recovery prospects across and within developing Asia’s subregions are complicated by rising inflation and interest rates, narrowing fiscal space, and intensifying geopolitical tensions. With global uncertainty and the growing threat of climate change, ADB’s developing member countries are searching for targeted, sustainable, and practical solutions to recover from these multifaceted challenges.
The event was held as part of the 55th Annual Meeting of the ADB Board of Governors.
Source: Asian Development Bank