The Multilateral Cooperation Center for Development Finance (MCDF) Chief Executive Officer (CEO) Mr. Zhongjing Wang and a team from the MCDF Secretariat visited the Asian Development Bank (ADB) Headquarters in Manila, Philippines from 26 to 29 June, and presented its governance and activities to ADB’s senior management and the Board of Directors and discussed areas of cooperation. CEO Wang also signed ADB’s “Distinguished Visitors Book” as an honored guest.

During the bilateral meeting with CEO Wang, ADB President Mr. Masatsugu Asakawa noted that there are many areas of common interest between ADB and MCDF, including regional cooperation and integration (RCI), debt sustainability and climate change, and ADB and MCDF can collaborate in these areas through knowledge sharing and capacity development. Having worked on the formulation of G-20 Principles for Quality Infrastructure Investment, President Asakawa particularly appreciated that MCDF also shares these values and stressed the importance of domestic resource mobilization through tax reform. In response, CEO Wang underscored that the capacity to raise sufficient domestic resource is key to solve debt distress. He mentioned that Paris Agreement for Climate Change, UN’s Agenda 2030 and SDGs, and G-20 Principles for Quality Infrastructure Investment, form the basic foundations for MCDF operations.

Hosted by the Dean of ADB Board of Directors, ED Mr. Takahiro Yasui of Japan, a Board Colloquium was held to introduce MCDF governance and activities to the ADB Board, participated by 7 EDs, 9 Alternate EDs, 13 Director’s Advisors, 2 Vice Presidents, Managing Director General, and Secretary, both in person and on-line. CEO Wang, Senior Advisor to CEO Mr. Ayumi Konishi, Head of Platform Team Mr. Strahan Spencer, Head of Program Team Mr. Frederic Asseline and Senior Governance Officer Ms. Anastasia Rodina had a briefing on MCDF and its operations respectively. Following the presentation there was a very active questions and answers session at the Board Colloquium.

During this visit, MCDF CEO Mr. Wang was invited to sign “Distinguished Visitors Book” at the ADB History Gallery, as an honored guest of ADB. “We highly appreciate great support of ADB to MCDF as a newly established multilateral initiative for quality connectivity and infrastructure through partnerships,” CEO Wang wrote. “I wish we can work together to promote sustainability of DMCs (Developing Member Countries).”