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Nirmala Sitharaman attends the 58th ADB Board of Governors meeting
Utkarsh Classes
Updated: 06 May 2025
3 Min Read
Union Finance Minister Nirmala Sitharaman attended the 58th annual Board of Governors meeting of the Asian Development Bank (ADB) in Milan, Italy, from 5 to 7 May 2025. Nirmala Sitharaman represents India on the Board of Governors of the ADB.
The annual meetings of the Board of Governors are held in the member countries of the ADB.
Italy is the founding member of the ADB.
The 57th annual meeting of the Board of Governors was held in Tbilisi, Georgia, from 2 to 5 May 2024.
The Board of Governors is the highest decision-making body of the ADB, and it meets once a year. Normally, the finance minister of the member country represents the country on the Board of Governors.
The 58th Board of Governors meeting was inaugurated by the ADB President Masato Kanda on 5th May 2025.
Speaking on the occasion, Masato Kanda outlined the focus areas of the ADB in the Asia-Pacific region.
Over 5,000 participants attended the meeting in Milan. They included the Board of Governors, representatives of the 69 member countries, the private sector, civil society, and academia.
The Italian Prime Minister Giorgia Meloni also participated in the meeting.
The Asian Development Bank was established in 1966 as a regional multilateral development bank focused on the Asia Pacific region.
It provides financing facilities for poverty alleviation, development and climate-related projects to the government and the private sector.
Members - 69 countries. Fifty are from the Asia-Pacific region, while 19 are from outside this region.
Headquarters: Mandaluyong City, Metro Manila, Philippines
President: Masato Kanda
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ADB sanctions $85.4 million loan for Tripura Industrial Infra Dev
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