MCDF CEO Meets ADB Management and Member Officials at its Annual Meeting in Milan

Multilateral Cooperation Center for Development Finance (MCDF) CEO Zhongjing Wang met Asian Development Bank (ADB) senior management and member officials at the 58th ADB Annual Meeting in Milan, Italy on 4-7 May. They discussed opportunities to deepen collaboration to promote high-quality connectivity infrastructure in ADB developing member countries. Mr. Ayumi Konishi, Senior Advisor to the MCDF CEO, joined the meetings.

ADB President Masato Kanda thanked the MCDF delegation for attending the annual meeting. CEO Wang congratulated him on his appointment as ADB President and expressed appreciation for ADB’s continuing strategic advice and support for MCDF information and knowledge sharing activities as an MCDF Coordination Committee (CC) member.

In meetings with ADB Vice Presidents Mr. Yingming Yang and Mr. Scott Morris, CEO Wang provided an update on MCDF’s project preparation, capacity building, and information sharing work. They praised MCDF’s rapid development and partnership with ADB in areas such as environmental and social safeguards, anticorruption and integrity, public-private partnerships, renewable energy, and regional economic cooperation. This includes MCDF’s engagement with the Central Asia Regional Economic Cooperation (CAREC) and Greater Mekong Subregion (GMS) economic cooperation programs.

Mongolia Deputy Prime Minister Mr. Togmidyn Dorjkhand and CEO Wang discussed the country’s renewable energy development and trade potential, including the export of solar and wind power and green hydrogen. The Deputy Prime Minister expressed Mongolia’s strong interest in MCDF project preparation grants and information sharing activities. CEO Wang welcomed Mongolia’s interest and said he looks forward to partnering with the country.

CEO Wang explained to Kyrgyzstan Economy and Commerce Minister Mr. Bakyt Sydykov how MCDF’s efforts to enhance institutional capacity in Central and West Asia are accelerating and guided by International Financial Institution standards. Among them include the recent MCDF-CAREC Institute residential workshop on sustainable financing and the planned launch of a new connectivity report for the region at the Asian Infrastructure Investment Bank (AIIB) Annual Meeting in Beijing in June. Miniser Sydykov called for further MCDF support which he said is critical for Kyrgyzstan’s sustainable development.

CEO Wang thanked Dr. Sulton Rahimzoda, Chairman of Tajikistan’s State Committee on Investments and State Property Management, for participating in MCDF’s seminar on Central Asia connectivity at the AIIB Annual Meeting in Samarkand, Uzbekistan last year. CEO Wang also welcomed Tajikistan as a newly confirmed CC Observer in 2025 and encouraged it to leverage MCDF’s connectivity support, to which Chairman Rahimzoda concurred.

During a meeting with Sri Lanka’s Secretary of Finance, Planning, and Economic Development, Mr. K.M. Mahindra Siriwardana, CEO Wang said he has been pleased to welcome Sri Lanka as a CC Observer since June 2024 and hopes to deepen its partnership with MCDF. Secretary Sriwardana said his country’s improving domestic situation will help enable it to actively participate in CC meetings and seek further partnership opportunities with MCDF.

MCDF CEO Wang conveyed to Philippines Finance Department Undersecretary Mr. Joven Balbosa his gratitude to the Philippines for being one of MCDF’s 7 donor countries and an MCDF Governing Committee member. Both Undersecretary Balbosa and CEO Wang said they look forward to seeing cooperation on projects in the Philippines. They also discussed arrangements for the inaugural MCDF Ministerial Meeting, alongside the AIIB Annual Meeting in Beijing in June.

CEO Wang and Bangladesh Ministry of Finance Economic Relations Division Secretary Mr. Md. Shahriar Kader Siddiky discussed the MCDF Finance Facility’s grant support for the preparation of projects with two private sector banks in Bangladesh—City Bank PLC and Eastern Bank PLC. Secretary Siddiky said that Bangladesh intends to deepen its partnership with MCDF at an appropriate time, following its government transition, which CEO Wang warmly welcomed.

Left to right: Mr. Yingming Yang, Vice President, Asian Development Bank and Mr. Zhongjing Wang, CEO, Multilateral Cooperation Center for Development Finance (MCDF)

Center to left to right: Mr. Scott Morris, Vice President, Asian Development Bank (ADB), Ms. Marzia Mongiorgi, Regional Head, Operations Coordination, Southeast Asia Department, ADB, Mr. Zhongjing Wang, CEO, MCDF

Left to right: Mr. Togmidyn Dorjkhand, Deputy Prime Minister, Mongolia and Mr. Zhongjing Wang, CEO, MCDF

Left to right: Mr. Bakyt Sydykov, Minister of Economy and Commerce, Kyrgyzstan, Mr. Mederbek Tumanov, Advisor, Ministry of Economy and Commerce, Kyrgyzstan, Mr. Zhongjing Wang, CEO, MCDF

Left to right: Mr. Sulton Rahimzoda, Chairman, State Committee on Investment and State Property Management, Tajikistan and Mr. Zhongjing Wang, CEO, MCDF

Left to right: Mr. K.M. Mahindra Siriwardana, Secretary, Ministry of Finance, Planning, and Economic Development, Sri Lanka, Mr. R.M.S.P.S. Bandara, Director General, External Resources Department, Ministry of Finance, Planning, and Economic Development, Sri Lanka, Mr. Ranjith Garusinghe, Deputy Director (Planning), State Ministry of Provincial Councils and Local Government Affairs, Sri Lanka, Mr. Zhonjing Wang, CEO, MCDF

Left to right: Staff of Department of Finance (DOF), Philippines, Mr. Joven Balbosa, Undersecretary, DOF, Philippines, Mr. Ayumi Konishi, Senior Advisor to the CEO, MCDF, Ms. Donalyn Minio, Director, DOF, Philippines, staff of DOF, Philippines

Center to right to left: Mr. Md. Shahriar Kader Siddiky, Secretary, Economic Relations Division (ERD), Ministry of Finance, Bangladesh, Mr. Md. Masudul Haque, Joint Secretary, ERD, Ministry of Finance, Bangladesh, Mr. Zhongjing Wang, CEO, MCDF