Finance minister protests Taiwan's designation at ADB

Taipei, May 6 (CNA) Finance Minister Chuang Tsui-yun (莊翠雲) has again protested Taiwan's designation at the Asian Development Bank (ADB), which called Taiwan "Taipei, China," as it has done since 1986.

A Ministry of Finance official who was part of Taiwan's delegation to the ADB's 57th annual meeting said Chuang protested the regional bank designation of Taiwan during her speech at the meeting on Sunday.

The ADB's latest annual meeting was held in Tbilisi, Georgia during May 2-5.

The official said Chuang, who attended the ADB's annual meeting for the second time since assuming the post at the end of January 2023, voiced Taiwan's disagreement over the bank unilaterally changing the nation's designation.

The official added Chuang urged the ADB to correct Taiwan's name at the regional bank.

Established in 1966, the ADB is owned by 68 members, with 49 from the region.

The Republic of China (Taiwan) was one of the bank's founding members, but it has been called "Taipei,China" (space after the comma deliberately omitted) since 1986, a designation given after the People's Republic of China joined the bank.

Chuang, who will continue as Finance Minister after President-elect Lai Ching-te (賴清德) takes office on May 20, currently serves as an ADB board governor.

During her speech, Chuang said as an ADB member country, Taiwan has tried to fulfill its obligation and carry out its responsibilities, calling on all member countries at the bank to respect each other and allow Taiwan to participate in the bank's activities on an equal footing.

During the latest ADB annual meeting, which had a theme of "Bridge to the Future," Chuang also focused on climate change in her speech as the Asia Pacific region faces pressing challenges resulting from climate change, according to the MOF official.

In November, 2023, the ADB launched its Climate Change Action Plan 2023-2030 in which the bank set out a new operating model for the multilateral development bank.

At a time when the ADB has reformed and positioned itself as the climate bank for the Asia Pacific region, Chuang said in her speech that climate finance has become one of the most important issues at the multilateral bank, adding that Taiwan will support the bank's financial management reforms in a bid to allow the bank to extend more lending needed by its member nations to address the impact of climate change.

The Asian Development Fund (ADF) of the ADB, which provides grants to the bank's lower-income developing member countries, is replenished every four years including 2024.

Taiwan will provide support to the ADB for the bank to extend assistance to the so-called Small Island Developing States (SIDS), a group of developing countries which are small island countries and tend to share similar sustainable development challenges, Chuang said.

In a publication released in April on its website, the Manila-based ADB said Taiwan has provided US$1.55 billion in capital subscription to the bank and also contributed and committed US$133.43 million to ADB special funds since becoming a member.

In her speech, Chuang urged the ADB to place more emphasis on the poor quality of infrastructure in Pacific islands nations.

Taiwan is willing to share its experience with ADB member nations on other issues including gender equality and female empowerment, Chuang said.