New Delhi: Finance Minister Pranab Mukherjee will leave on Thursday for Manila to attend 45th annual conference of the Asian Development Bank (ADB) which will discuss the global economic problems and deliberate on steps to promote growth and improve governance.
During his stay in Philippines, Mukherjee will hold bilateral talks with Akihiko Tanaka, President, Japan International Cooperation Agency (JICA) as well as with his counterparts from Bangladesh and Bhutan and may call on President Benigno Simeon Cojuangco Aquino III.
The annual meeting takes place in the backdrop of Asia and Pacific regions that have seen steady growth and is leading global recovery. However, they are also vulnerable to growing inflation, spikes in fuel prices, austerity measures in the eurozone, and worsening impacts of climate change.
Mukherjee will attend the opening session of the board of Governors on the morning of May 4. In the afternoon, the Finance Minister would address the first business session of the board of Governors, an official release said.
In this session, the issues relating to global economic situation, inclusive growth, infrastructure development, urbanisation, energy security, regional and South-South Cooperation are likely to be discussed, among others.
The Finance Minister will take over the Chair of the board of Governors till the next Annual Meeting to be held in Delhi on 5 May, 2013.
He will be having bilateral discussion with Haruhiko Kuroda, President, Asian Development Bank. Both are likely to discuss the need to work closely by India and ADB in order to promote South Asia Sub Regional Economic Cooperation (SASEC), it said.
India may ask ADB to cover new ground through study and research on how Asian countries can manage a sustainable, robust and inclusive growth, it added.
Nearly 4,000 delegates - comprising top policymakers, business leaders, academics, civil society, and development institution representatives - are set to attend the meeting.
On May 6, Mukherjee is to participate in the concluding ceremony of 150th Anniversary of Gurudev Rabindranath Tagore in Dhaka.
Besides, he will hold delegation level talks with Bangladesh Prime Minister Sheikh Hasina during day-long official visit to the country.