India's finance minister Pranab Mukherjee today took over as chairman of the board of governors of the Asian Development Bank (ADB), at the concluding session of the 45th annual meeting of the board in Manila.
Mukherjee will hold the chair till the conclusion of the next meeting, i.e, the 46th meeting of the board of governors of Asian Development Bank, which is scheduled to be held in New Delhi in May 2013.
Speaking on the occasion, Mukherjee said ADB has been a valued multilateral partner in its challenging journey of economic growth. India is one of the founder members of the ADB and its association with the ADB dates back to 1966, he noted.
Addressing the second business session for taking over the baton, Mukherjee said, ''India is very happy to accept its election as the next chair of the board of governors.''
''Our hosts here in the Philippines have set very high standards. While we can safely promise you much warmer, dare I say slightly hotter, weather, we shall endeavor to match the Philippines standards of hospitality and efficiency,'' he said.
Mukherjee extended a warm welcome to the governors, delegates and participants to the bank's 46th annual meeting in New Delhi, same time next year.