ADB approves it’s financial statement
Hossen Sohel for DOT
 The Board of Governors of the Asian Development Bank (ADB) yesterday approved ADB’s financial statements and the allocation of its 2019 net income in its first-ever virtual annual meeting held amid the novel coronavirus (COVID-19) pandemic, reports BSS. The approval came at the first stage of the 53rd Annual Meeting of the Board of Governors-a Business Session among the Governors or their designated representatives from 68 members of ADB.  The second stage of the Annual Meeting, including seminars with Governors and other senior government officials, members of the private sector, representatives of international organizations and civil society organizations, youth, academia, and the media, is currently scheduled for September 18-21, 2020 in Incheon, Republic of Korea. “Our immediate priority is to provide vital support to developing member countries as they confront the COVID-19 pandemic and return their economies to a path of sustainable growth,” said ADB President Masatsugu Asakawa in his remarks to the meeting, said an ADB press release. “Your approval today of the financial statements and allocation of net income ensures that we have the tools and financial stability to address the enormous challenges that now affect the lives and economies of millions of people across our region, he added.
 Chair of the Board of Governors, and Deputy Prime Minister and Minister of Economy and Finance of the Republic of Korea Hong Nam-Ki said, “Our choices and efforts today will determine whether we can overcome the current health care and economic crises.”
“The ADB should turn this crisis into an opportunity, while enhancing knowledge sharing on COVID-19 policy responses and expanding support for low- income countries and vulnerable groups,” added the Deputy Prime Minister.
 The Board of Governors adopted a resolution to allocate $1.069 billion of net income, the highest in the bank’s history, from ADB’s 2019 ordinary capital resources.