Over 2,500 delegates to attend ADB meet

Over 2,500 delegates are expected to take part in the four-day Asian Development Bank's (ADB) 39th annual meeting to be held for the first time in Hyderabad from May 3, 2006. The Hyderabad International Convention Centre, built at a cost of $39 million, will be the venue of the meeting.

According to ADB deputy secretary Amarjit S Wasan, the participants include finance and economic planning ministers, senior government officials, representatives of the multilateral development bank community, investment bankers, representatives of non-governmental organisations, and members of the media.

"Apart from governors of the 64 member countries of ADB, who are mostly finance ministers of their respective countries, the finance ministers of Japan, China, and Korea (the plus 3 countries) will take part in the meeting," Wasan, who was here last week to oversee the arrangements being made for the meeting, told Business Standard.

The draft agenda of the meeting includes adoption of annual report for 2005, financial statements and independent auditors' reports, allocation of net income, budget for 2006, resources of ADB and review of rules and regulations. ADB's annual lending volume is typically about $6 billion, with technical assistance usually totalling about $180 million a year.

Besides the regular business, seminars will held on the financial, economic and social issues shaping the Asia and the Pacific region and impending challenges and opportunities.

A half-day would be devoted to a series of seminars on India during which five chief ministers are expected to make presentations on their respective states. A handicrafts exhibition will also be held where artisans from different parts of India will showcase their products.

Wasan, however, pointed out that the "real action" would be at the meetings that would take place on the sidelines during the convention either individually or in groups.

The meetings would provide opportunities for member governments to interact with ADB staff, non-governmental organisations (NGOs), representatives of observer countries, international organisations, academia and the private sector. "Many business transactions take place in these meetings," he said.

Though the event, being held in India after a gap of 16 years, is scheduled to take place three months later, preparations have already started.

The establishment of an international convention centre that offers a seating capacity of 4,000 with the flexibility to expand to 6,500 seats and construction of a 300-room hotel adjacent to it had been kept in mind when ADB had decided to hold its annual meeting in Hyderabad.

"Though the construction of the hotel is yet to be completed, at least 150 rooms are expected to be ready by the time of the meeting," Wasan said.