The Covid-19 pandemic has forced the Asian Development Bank (ADB) to adjust the structure of the 53rd annual meeting of its Board of Governors this year, the bank said on Friday.
The ADB Board of Directors approved a proposal that the annual meeting, originally scheduled for May 2 to 5 in Incheon, South Korea, will be conducted in two stages, reports Xinhua.
The first stage will comprise a reduced-scale meeting of the Board of Governors, predominantly through their appointed representatives, in Manila on May 22.
According to the Manila-based bank, this will enable the Board of Governors to consider ADB's financial statements and net income allocation in line with ADB institutional requirements.
It said the meeting will then be adjourned and reconvene on Sept. 18 to 21 for a second stage that will comprise a full-scale annual meeting in Incheon.
"The safety of annual meeting participants is of utmost importance. Following close consultation with the South Korean government, we agreed the adjusted approach to the meeting is appropriate in view of the ongoing Covid-19 pandemic," said ADB Secretary Eugenue Zhukov.
Both ADB and South Korea are fully committed and will work closely toward preparing an engaging and productive annual meeting later this year, Zhukov added.