The Minister of Finance, Kaleb Udui, Jr., as the Republic of Palau ADB Governor, recently attended the Asian Development Bank (ADB) 56th Annual Meeting held in Incheon, Republic of Korea from May 1st to May 5th, 2023. This event, held under the theme “Rebounding Asia and the Pacific: Forging a Path Forward,” brought together ADB Governors from across all member countries.

During the Annual Meeting, Minister Udui, Jr. shared Republic of Palau’s commitment to advancing regional cooperation and fostering economic development. Minister Udui, Jr. held productive discussions with ADB President Masatsuga Asakawa and Rachel Thompson, the Australia ADB Executive Director representing our constituency. These meetings focused on strengthening partnerships and exploring opportunities for collaborative initiatives to mitigate climate change and support for Palau’s economic recovery.

In addition to these pivotal engagements, Minister Udui, Jr. also participated in significant bilateral meetings with distinguished representatives. These included Taiwan ADB Governor and Minister of Finance Tsui-Yun Chuang, Maldives ADB Governor and Minister of Finance Ibrahim Ameer, U.S. Treasury Deputy Assistant Secretary Robert Kaproth, accompanied by U.S. Ambassador and ADB Executive Director Chantale Wong, World Bank Vice President Manuela Ferro, Japan Bank for International Cooperation Governor Hayashi Nobumitsu, and Australia MP Andrew Leigh. These discussions covered a wide range of topics, from regional development challenges to strategic investments and cooperation to elevate the private sector.

Moreover, Minister Udui, Jr. actively participated in the ADB Board of Governors’ Business Session and engaged in plenary sessions addressing pressing issues in the Asia-Pacific region and the need to modify ADB’s charter to increase lending capacity. These sessions provided a platform for exchanging ideas, sharing best practices, and formulating collaborative strategies for sustainable and inclusive development.

Minister Udui, Jr.’s presence at the ADB 56th Annual Meeting underscored our nation’s commitment to regional development to forge a path forward for a resilient and prosperous Asia-Pacific.

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