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Linking economies for inclusive development

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FINEX Folio — By J. Albert Gamboa-125

FINEX Folio

The Philippines is currently hosting the 51st Annual Meeting of the Asian Development Bank (ADB) Board of Governors from May 3 to 6 at various venues in Metro Manila, mostly in the cities of Mandaluyong and Pasig.

This is the largest international event hosted by the country this year, with some 4,000 delegates in attendance. Central bank governors and finance ministers from the ADB’s 67 member-countries are in town for the multilateral meeting with the theme of “Linking People and Economies for Inclusive Development.”

While the 2017 Association of Southeast Asian Nations (ASEAN) Summit and its related summits were held in key cities nationwide, with activities in the National Capital Region clustered in Makati City and the Manila Bay area, this time around the events are concentrated in the Ortigas central business district.

Aside from tomorrow’s closed-door Board of Governors meeting at EDSA Shangri-La Hotel, the highlight of this four-day conference is the Philippine-hosted forum on the “Past, Present, and Future of the World Economy” at the ADB Gymnasium today.

Distinguished experts in digital finance, international economics, and history will lead the sessions and share their insights on how tectonic shifts in the global economy and new technologies will shape the Earth’s future.

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These speakers are: fintech leader Eric Jing, CEO of Ant Financial Services, Alibaba Group; economist Dr. Paola Subacchi, former director of international economics at Chatham House; and historian Dr. Peter Frankopan, professor of global history at Oxford University.

Philippine Finance Secretary Carlos Dominguez III, who is concurrent chair of the ADB Board of Governors, and Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla, Jr. will be on board during this host-country forum, along with ADB President Takehiko Nakao.

ADB Institute Dean Dr. Naoyuki Yoshino, BSP Monetary Board member Dr. Felipe Medalla, Indonesian Finance Minister Sri Mulyani Indrawati, Asian Infrastructure Investment Bank CFO Thierry de Longuemar, International Monetary Fund Assistant Director Vikram Haksar, and ADB Finance Sector Group chief Lotte Schou-Zibell will serve as panelists in the three sessions.

Significantly, this is the first carbon-neutral ADB annual meeting ever held in Manila, where the development banking institution was founded in 1966. This is in line with ADB’s firm commitment to make all its annual meetings sustainable.

MASSKARA SA GRANADA
Actor-businessman Joel Torre’s chicken inasal restaurant, JT’s Manukan Grille, is holding its 15th anniversary party on May 6 at the pioneer outlet along Ortigas Avenue and Granada Street in Gilmore, Quezon City.

The celebration will have a Masskara theme patterned after the world-famous Masskara Festival of Bacolod City, home of the original inasal or roasted chicken dish. An evening of musical entertainment will be provided by DJ Elmer Dado, his band Gruppo Tribale, a drum and percussion duo known as the Hernandez Brothers, and other special guests.

From its humble beginnings in Granada near the boundary of Quezon City and San Juan City, JT’s Manukan has grown to 16 branches nationwide, the latest of which recently opened in Siargao Island off northeastern Mindanao. Kudos to Joel and his wife Christy on their successful food venture!

J. Albert Gamboa is CFO of the Asian Center for Legal Excellence and Chairman of the FINEX Media Affairs Committee’s Golden Jubilee Book Project.

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