MILAN, Italy, May 5. Italy encourages the Asian
Development Bank (ADB) to take more active part in deploying
risk-sharing mechanisms, Fabio Panetta, governor of ADB from Italy,
said, addressing the business session of ADB Governors, Trend’s special
correspondent reports from Milan.
We encourage the ADB to take more active part in advancing
policy reforms and deploying financial instruments such as blended
finance guarantees and risk-sharing mechanisms to unlock greater
private sector participation. Building on the experience of its G7
Presidency, Italy highlights the importance of understanding the
economic implications of artificial intelligence and advancing
policy recommendations that strike a balance between innovation and
risk management,” he said.
Panetta noted that digital transformation is increasingly
shaping productivity and growth across the globe.
“Italy supports the ADB’s commitment to harness digital
technologies, including artificial intelligence, to enhance
internal efficiency and address development challenges. Efficient
cross-border payment systems remain a strategic priority for Italy
and Europe as they are essential to facilitating trade, enabling
remittances, advancing financial inclusion, and sustaining economic
growth,” he noted.
Panetta said that as a founding member of the ADB, Italy sees
this event not only as an opportunity to strengthen cooperation
among nations, but also as a platform to promote inclusive and
forward-looking global growth.
“Italy welcomes the ADB’s increased focus on non-sovereign
operations in 2024, recognizing the vital contribution of the
private sector in delivering innovative and scalable solutions for
development. Italian companies, with their renowned expertise in
engineering, design, industrial innovation, and many other sectors,
are uniquely equipped to contribute meaningfully and enduringly to
the region’s development priorities,” he said.