Multilateral lending agency Asian Development Bank (ADB) has decided to hold its 53rd annual meeting in two stages in view of the coronavirus pandemic.
The first stage will comprise a reduced-scale meeting of the Board of Governors, predominantly through their appointed representatives, in Manila on May 22, the ADB said in a statement.
"This will enable the Board of Governors to consider ADB's financial statements and net income allocation in line with ADB institutional requirements," the ADB said.
The meeting will then be adjourned and reconvened on September 18 for a full-scale second-stage annual meeting at Incheon in South Korea. The meeting will continue till September 21.
The annual meeting was earlier scheduled to be held from May 2 to 5 at Incheon.
"The ADB Board of Directors today (Friday) approved a proposal that the annual meeting, originally scheduled for 2-5 May, 2020, in Incheon, Republic of Korea, will be conducted in two stages," said the statement.
The safety of annual meeting participants is of utmost importance, ADB Secretary Eugenue Zurich said.
Zurich added, "Following close consultation with the Government of the Republic of Korea, we agreed the adjusted approach to the meeting is appropriate in view of the ongoing COVID-19 pandemic."
The COVID-19, which has spread its tentacles around the globe, has taken more than 10,000 lives.
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