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64-member delegation to take part

Hyderabad , March 25

The 39th annual general meeting of Asian Development Bank (ADB) slated here for May first week would host about 64 member delegations, including more than 40 finance ministers.

The event, billed as one of the biggest financial event ever hosted in the country, would see finance and economic planning ministers, representatives of multilateral development bank community, investment bankers, and non-government organisations, converging.

After a review of the arrangements for the mega event, along with the State Chief Minister, Dr Y.S. Rajasekhara Reddy, and officials of the bank, the Union Finance Minister, Mr P. Chidambaram, said, "he was confident that the ADB meet will provide a unique opportunity for India, Andhra Pradesh and Hyderabad in particular to showcase achievements."

The Finance Minister, who is the event chairman, said he was satisfied with the progress made. Even the details of flight connectivity, local transport and phone facilities were discussed.

Opening session on May 5

While the opening session of the ADB meet will be held on May 5 at the Hyderabad International Convention Centre, the event organisers have combined some leisure with serious business. On the same evening, India Day will be hosted at the famous Golkonda Fort.

The organisers have blocked about 2,464 rooms in all the Star hotels, institutes and accommodation in corporate houses, where delegates could be hosted. ITDC (travel) and KW Conferences (event) will address the logistics.

As a host, the State Government is set to exempt State excise duty on liquor, luxury tax on hotel accommodation and also make arrangements for refund of VAT.

Earlier, the ADB President, Mr Haruhiko Kuroda, had visited Hyderabad.

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