Asia and the rest of the world face "immense" challenges, and the Asian Development Bank must work with others to address those issues, its director general told CNBC on Friday.
"The challenge that we are facing in this region and also globally, are immense, including climate change.
"So this is a limitation for different countries to take more debt for their sustainable development and climate change."
He said multilateral development banks "can and must take bold action to help address the challenges."
"First of all, we need to ramp up our lending capacity ... but also, we need extra efforts to mobilize more money from private sector," he said.
Persons:
Tomoyuki Kimura, CNBC's Tanvir Gill, Covid
Organizations:
Asian Development Bank, CNBC, ADB
Locations:
Asia, New Delhi