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.

Theme of the 58th Board of Governors meeting

The 58th Board of Governors meeting theme was Sharing Experience, Building Tomorrow.

Who inaugurated the 58th Board of Governors meeting?

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.

The bank will provide financing facilities up to $40 billion in the region by 2030 to address the vulnerability of the region’s food systems.
The bank will increase its investment in digital technologies to improve access to education, finance, and markets.
The Bank will invest up to $10 billion to support the ASEAN power grid and will also help modernise the electricity grid in the region.
ADB will invest in the region to build resilience by strengthening infrastructure, restoring and protecting ecosystems, and helping vulnerable communities adapt to climate change impacts.
The Bank will increase its support to the private sector in the region to $13 billion per year by 2030.

Participants of the 58th Board of Governors

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.

Where will the 59th Board of Governors Meeting 2026 be held?

The next 59th Board of Governors meeting will be held in Samarkand, Uzbekistan, from 3- 6 May 2026.

Asian Development Bank

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