Manila: Asian Development Bank (ADB) President Masatsugu Asakawa in a call Wednesday with Agence Française de Développement Group (AFD) Chief Executive Officer Rémy Rioux reaffirmed the importance of collaboration between the two institutions, particularly on key issues such as climate change and aspirations for COP26.
"ADB’s partnership with France, through AFD, is strong and continues to build on our long history of collaboration on important development issues and projects across many countries and sectors in Asia," Asakawa said in a press release on Wednesday.
"This solid foundation and our dynamic collaboration allows us to support an inclusive and resilient green recovery across the region as it emerges from the covid-19 pandemic," he added.
The two leaders met ahead of the agencies’ annual high-level consultation in mid-April.
ADB and AFD signed their first partnership framework agreement in October 2016. They have since jointly funded 22 projects in 10 countries, in sectors such as energy, transport, public sector management, finance, agriculture, water, urban infrastructure, and health. AFD has provided $1.9 billion in cofinancing alongside $4.7 billion from ADB to fund these development programs across the region.
The two leaders discussed cooperation on mitigating the severe impact of climate change in Asia and the Pacific which threatens to further undermine development gains over the last several decades. As part of that endeavor, ADB and ADF have a shared objective to contribute to the success of the COP26 summit to be hosted by the UK government later in the year. In 2020, while responding to the covid-19 pandemic, ADB committed $4.3 billion in climate finance and mobilized $729 million from external resources.
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