ADB Expands European Ties with New Paris Office, $6B Cofinancing Plan

In a landmark move to strengthen its European presence and deepen multilateral partnerships, Asian Development Bank (ADB) President Masato Kanda concluded a high-level mission to France and Spain, announcing the opening of a new ADB office in Paris and unveiling a significant expansion in cofinancing commitments with French development institutions.

The announcement was made during a meeting with French President Emmanuel Macron on the sidelines of the Fourth International Conference on Financing for Development (FfD4) in Seville, Spain. This major step reflects ADB’s ambition to scale up its cooperation with European partners in tackling some of the most pressing development challenges across Asia and the Pacific.

“France is not only a longstanding partner, but a key ally in shaping a more inclusive, sustainable, and resilient future for Asia and the Pacific,” said President Kanda. “Establishing a permanent presence in Paris marks an important step in strengthening our ties.”

Strengthening Strategic Partnerships in Paris

President Kanda began his mission in Paris, where he met with Rémy Rioux, CEO of the Agence Française de Développement (AFD), to sign a critical amendment to the ADB–AFD Partnership Framework Agreement. The agreement doubles the joint cofinancing target to $6 billion for 2026–2028, up from a previous target of $3 billion, signaling a strong vote of confidence in collaborative efforts to foster sustainable development.

During his Paris visit, President Kanda also held strategic meetings with:

• Emmanuel Moulin, Secretary General of the French Presidency, to reaffirm ADB’s relationship with France and explore new avenues of cooperation.

• Mathias Cormann, Secretary-General of the Organisation for Economic Co-operation and Development (OECD), to expand on their renewed Memorandum of Understanding (MoU) signed earlier this year.

Kanda’s engagements in Paris culminated in his participation at the Heads of Multilateral Development Banks (MDBs) Meeting, hosted by the Council of Europe Development Bank, where he emphasized ADB’s commitment to:

• Scaling up investment in social infrastructure

• Promoting local currency finance

• Enhancing private capital mobilization

• Advancing nature finance and climate resilience

Promoting Development Finance in Seville

President Kanda then traveled to Seville, Spain, to attend the Fourth International Conference on Financing for Development (FfD4)—a pivotal forum for global cooperation on development finance. At the opening ceremony, he joined world leaders to set the tone for the conference, emphasizing the need for mobilizing private capital to drive inclusive, green, and resilient economies.

In a high-level panel session, Kanda discussed actionable strategies for unlocking investment, sharing insights into ADB’s growing suite of financial instruments, including:

• Blended finance vehicles

• Green and sustainability bonds

• Innovative credit guarantees

• Private sector engagement platforms

Bilateral Engagements and Global Collaboration

On the sidelines of FfD4, President Kanda held several bilateral meetings with senior government officials and multilateral leaders:

• Anne Aly, Australia’s Minister for International Development – highlighting shared development priorities in the Pacific region and Australia’s enduring support for ADB.

• Ville Tavio, Finland’s Minister for Foreign Trade and Development – discussing Finland’s support for climate innovation, education, and digital transformation in ADB member countries.

• Carlos Cuerpo, Spain’s Minister of Finance – recognizing Spain’s leadership in hosting FfD4 and its financial contributions to ADB initiatives.

• Alvaro Lario, President of the International Fund for Agricultural Development (IFAD) – exploring deeper collaboration on food security, rural development, and sustainable agriculture.

President Kanda was also honored to attend a high-level diplomatic dinner hosted by Their Majesties King Felipe VI and Queen Letizia of Spain, celebrating Spain’s role in promoting multilateralism and international cooperation.

ADB’s Expanding Global Vision

Founded in 1966, the Asian Development Bank is a leading multilateral institution dedicated to promoting inclusive, resilient, and sustainable development across Asia and the Pacific. With 69 member countries, including 50 from the region, ADB continues to evolve into a global convener, fostering cross-regional partnerships that advance the Sustainable Development Goals (SDGs).

The opening of the Paris office represents a strategic pivot in ADB’s global engagement, providing a permanent platform in continental Europe to coordinate with donor governments, financial institutions, private investors, and climate-focused stakeholders.

“This new chapter in our partnership with Europe reflects a shared vision for global progress,” said President Kanda. “Together, we are better equipped to address complex, interconnected challenges—from climate change and inequality to infrastructure and food security.”