ADB president to join world leaders at COP29 in Baku

Asian Development Bank (ADB) President Masatsugu Asakawa has confirmed his participation in the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), which will be held in November in Azerbaijan, sources in the country's government told Report.

Masatsugu Asakawa will participate in the Summit of World Leaders on Climate Action, which will be held on November 12-13 as part of COP29. ADB is supporting Azerbaijan in organizing COP29 by providing capacity-building assistance to government agencies involved in preparing for this global event.

In addition, the bank is ready to provide its experience, financial resources and support in implementing climate projects in the country, as well as in increasing the share of renewable energy in overall production.

In June this year, on the occasion of the 25th anniversary of the partnership between Azerbaijan and ADB, Asakawa already visited Baku. Since Azerbaijan joined the bank in 1999, ADB has committed more than $5 billion to projects in transport, energy, health, and agriculture. Established in 1966, ADB is owned by 68 members - 49 from the Asia and Pacific region.