Why Manila is hosting ADB annual meet

The choice of holding the high-profile 2012 ADB Annual Governors Meeting in Manila was reached after officials of the multilateral lender considered that that its headquarters is located here

MANILA, Philippines – The choice of holding the high-profile 2012 ADB Annual Governors Meeting in Manila was reached after officials of the multilateral lender considered that its headquarters is located here.

Manila is hosting the annual gathering of over 4,000 finance secretaries, central bank governors, top-level government officials, and investors for over 4 days starting Wednesday, May 2.

In a press briefing, Asian Development Bank (ADB) President Haruhiko Kuroda was asked what led to the decision to hold the event in Manila, which has been ADB’s home for around 45 years.

“There were quite a few offers to host this meeting. Certainly, having our headquarters here… It is quite good to have meeting here in Manila. So we accepted the offer of the [Philippine] government,” Kuroda said.  

He acknowledged that Manila has not been a choice host in the past since ADB’s “membership has expanded. We have 67 members now.”

“We had other meetings in Manila in the past 45 years. But not lately. Depending on offer coming from [the government of] member countries, we select site of meeting,” he added.

Finance Secretary Cesar Purisima has said that this event allows them to pitch the Philippines as an investment and tourism destination. – Rappler.com