Milan: Finance Minister Chuang Tsui-yun protested Taiwan’s designation at the Asian Development Bank (ADB), which has referred to the country as “Taipei,China” since 1986, at the ongoing ADB annual meeting, the Ministry of Finance (MOF) said Tuesday.

According to Focus Taiwan, Chuang protested Taiwan’s designation and reiterated a request to correct the designation in her speech at the meeting. The Republic of China (Taiwan) was one of the bank’s founding members, but it has been called “Taipei,China” since 1986, a designation given after the People’s Republic of China joined the bank.

An MOF official noted that Chuang remarked in her speech that Taiwan was one of the founding members of the ADB and has fulfilled its duties and obligations as a member, always aligning with the bank’s aims. As a result, she lodged a protest over the unilateral changing of Taiwan’s designation and requested a correction. Chuang also conveyed Taiwan’s opposition to the designation at a meeting with the regional bank’s new president Masato Kanda, who took office in February, the official said.

The official stated that Chuang urged ADB members to respect each other to ensure fair treatment and equal opportunities, while emphasizing Taiwan’s firm support of the ADB’s efforts to boost prosperity and resilience in the Asian Pacific region, as well as its promotion of regional sustainable development. Chuang also mentioned Taiwan’s willingness to share its development experiences with other members at the ADB.

The Finance Minister recognized the ADB’s continued efforts to push for capital and organizational reforms to meet demand from its members. She also praised the ADB for its focus on introducing resources from the private sector, digital transformation, and women’s participation. During the annual meeting, Chuang exchanged views with ranking officials at the ADB and finance officials from the bank’s members to expand Taiwan’s diplomacy and seek opportunities for international cooperation, the MOF said.

The 58th annual ADB meeting is being held in Milan, Italy, from May 4-7, with a focus on “Sharing Experience, Building Tomorrow,” marking the first time the meeting has been held outside Asia in nine years. The membership of the ADB has grown from 31 at its establishment in 1966 to 69, with 50 from within Asia and the Pacific and 19 from outside, including Italy.

According to the ADB, more than 5,000 participants attended the annual meeting, consisting of government representatives. In a publication released in April on its website, the Manila-based ADB said Taiwan had provided US$1.51 billion in capital subscriptions to the bank as of December 2024, and also contributed and committed US$133.43 million to ADB special funds since becoming a member.