Private sector requires assistance to effectively engage in most challenging areas - ADB's VP for market solutions

The private sector requires assistance to effectively engage in the most challenging areas, Vice President for Market Solutions at Asian Development Bank Bhargav Dasgupta said during the "ADB’s Evolution Roadmap: Update to Strategy 2030" panel discussion at the 57th annual meeting of the bank in Tbilisi, News.az reports.

"Backing for the private sector should stem from philanthropic capital, grant funds at our disposal, and concessional capital sourced from various channels. Such support is essential for enabling private sector engagement in areas currently deemed economically unviable. It's important for us to facilitate this process at an appropriate pace and invigorate it as swiftly as possible," he said.

To note, the theme of the 57th ADB Annual Meeting in Tbilisi, which runs from May 2 through May 5, is "Bridge to the Future".

The inaugural session of the Board of Governors is scheduled for May 4, marking the official commencement of the annual meeting. Distinguished guests from the host country will be in attendance. ADB President Masatsugu Asakawa and Georgia's Minister of Finance and Chairman of the ADB Board of Governors, Lasha Khutsishvili, will deliver statements.

The annual meeting provides ADB Governors with a platform to address developmental issues and challenges confronting the Asia-Pacific region. The event typically attracts several thousand participants, including finance ministers, central bank governors, senior government officials, private sector representatives, members of international and civil society organizations, youth, academics, and media personnel.