Solidarity in the time of COVID-19 -- MS Supplement

ADB governors asked to do more vs outbreak

Finance Secretary Carlos Dominguez III asked his fellow governors at the Asian Development Bank to empower president Masatsugu Asakawa with more discretion in undertaking measures to address the coronavirus pandemic and the resulting economic fallout.

Dominguez, in a letter to his fellow ADB governors, said providing Asakawa with some leeway, “within reasonable limits,” in  handling the institution’s budget and approving crisis-related initiatives would go “a long way in ensuring that timely and decisive action is taken by the bank in fighting the COVID-19 pandemic and the economic fallout that will follow.”

“Now more than ever, we, the board of dovernors of the ADB, should do our part to support the ADB management in ensuring that its avowed functions are carried out with utmost efficiency and effectiveness. I therefore call on my fellow governors to empower our trusted ADB president and the bank’s management to work alongside the governments of developing member-economies in dealing with the crisis in a highly responsive manner,” Dominguez said in his emailed letter sent to the other 67 governors of the bank. 

Topics: Carlos Dominguez III , Asian Development Bank , Masatsugu Asakawa , coronavirus pandemic
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