Economy

Japan Announces Bid for 2027 ADB Meeting

Yomiuri Shimbun file photo
Finance Minister Shunichi Suzuki speaks at a press conference in Tbilisi on Friday.

Jiji Press

13:06 JST, May 6, 2024

Tbilisi, Georgia (Jiji Press)—Japanese Finance Minister Shunichi Suzuki on Sunday announced a bid to host the 60th annual meeting of the Asian Development Bank in Japan in 2027.

Suzuki made the announcement in a speech on the final day of this year’s ADB annual meeting in the Georgian capital of Tbilisi.

He also said Japan will contribute about ¥162 billion to the Asian Development Fund, which provides aid to the ADB’s low-income members.

Japan last hosted an ADB annual meeting in Yokohama, near Tokyo, in 2017.

“In the hope that the ADB will continue playing a major role in the prosperity of the region, we want to bring (the 2027 meeting) to Japan,” Suzuki said.

During this year’s annual meeting, participants had quadrennial discussions to secure financial resources for the ADF.

This time, they agreed that a total of $5 billion will be secured for the four years from 2025, half of which will be put up by the ADB members. With the 162-billion-yen pledge, Japan will be the biggest contributor among the members.

The next annual meeting is scheduled to take place in Milan, Italy, in May 2025.