Ministero dell'Economia e delle Finanze

Milan 5 May 2025 - “The sharp increase in political uncertainty risks delaying business purchases and investment and household consumption”. These were the words of Italian Minister Giancarlo Giorgetti in his speech today at the opening ceremony of the 58th Annual Meeting of the Asian Development Bank, held for the first time in Italy (Milan, 4-7 May). “Against this background, we need strong and coordinated policy actions”, the Italian minister stressed, including those aimed at a “clearer, more stable and predictable trading environment”. Giorgetti emphasised the shared duty to “work internally”, pursuing “well-calibrated” macroeconomic policies and tackling long-term structural challenges via “ambitious structural reforms, enhance the growth potential of our economies”. At the same time, he added, it may be “time to rethink globalization as we know it”.

Giorgetti met with Indian Finance Minister Nirmala Sitharaman on the sidelines of the ADB Meeting. At the centre of the conversation, which was cordial, fruitful and an opportunity to relaunch the friendship and great harmony between Italy and India, was the global economic situation. The two Ministers renewed their wish to develop more intensive and active cooperation between the two countries.

Giorgetti also met with the Japanese Minister of Finance Katsunobu Kato. The conversation, which was also an opportunity to confirm the friendly relations between the two countries, focused on G7 economic issues, including international taxation.

Yesterday, the Italian Minister delivered a greeting at the Host Country Reception of the ADB Meeting at La Scala Theatre in the presence of Prime Minister Giorgia Meloni, the Mayor of Milan Giuseppe Sala, and the Governor of the Bank of Italy Fabio Panetta, and had a brief meeting with the President of ADB Masato Kanda.

During the first Annual Meeting of the Asian Development Bank in Italy at the Allianz Mi.Co. in Milan, the MEF curated, in collaboration with the Agency for the Internationalisation of Enterprises ITA-ICE, the exhibition that recounts projects, works and infrastructures carried out with ADB by Italian companies in 34 countries of Asia and the Pacific from 1966 to date: over 1.7 billion in financing in the energy, transport, water, urban development, industry, agriculture and engineering design sectors.

In order to concretely implement the projects launched during the Annual Meeting in Milan and facilitate access to the Asian market for Italian companies, the MEF, in collaboration with Agenzia Ice, has scheduled a series of technical visits to Italy by a group of representatives from emerging ADB member countries. They will meet a number of Italian companies of the health and agri-business sectors that will be able to showcase innovative technological solutions that have the potential to transform these sectors in beneficiary countries through ADB operations and projects. The technical meetings will be structured in stages to be held in different Italian regions, including presentations of industrial districts, clusters, university campuses and sector fairs.

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• The 58th ADB Annual Meeting in Milan

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