Vice-Minister of Finance Sara Lobo Brites attended the 2nd Session of the 53rd Annual Meeting of the Board of Governors of the Asian Development Bank on behalf of the Democratic Republic of Timor-Leste at 3:00 pm (2:00pm Manila time), on September 18, 2020. Sara Lobo Brites, who is the current Governor, participated in the referred Meeting from the Ministry of Finance Tower in Aitarak-Laran by virtual means.

The 2nd Session of the Board of Governors’ Meeting was originally planned for Incheon, Republic of Korea; however, given the current travel restrictions imposed by the Covid-19 global pandemic, the aforementioned Meeting took place in Manila, Philippines. The agenda included the following: Annotation of the Annual Report for 2019, Annotation of the Budget for 2020, Annotation of the Situation of the Financial Resources of the Asian Development Bank, Approval of the Composition of the Procedures Committee for 2020-21 and Approval of the President and Vice- Presidents of the Board of Governors for 2020-21.

The 53rd Annual Meeting which was attended by Governors and designated representatives from 68 countries, was led by the current President of the Asian Development Bank, Mr. Masatsugu Asakawa and Chaired by Mr. Hong Nam-Ki Governor for the Republic of Korea and Minister of Finance.

The partnership between Timor-Leste and the Asian Development Bank dates back to 1999, during the beginning of the nation-building process, where the focus has been on infrastructure development, transport connectivity and investment in agricultural value chains, paving the way for a more diversified and sustainable economy.

ADB’s current relationship with Timor-Leste is defined by the Country Partnership Strategy 2016-2020, which is aligned with the Strategic Development Plan 2011-30.

Timor-Leste Governor Sara Lobo Brites said that the Government values ​​the partnership between Timor-Leste and the Asian Development Bank and expects greater cooperation in the future, which will bring mutual gains for the benefit of the People of Timor-Leste.