29th AFMGM+3 & ADB 59th Annual Meeting

YBhg. Dato’ Zamzuri Abdul Aziz, Deputy Secretary-General (Policy) (TKSP[D]) represented Malaysia as Head of Delegation at the ASEAN+3 Closed-Door Fiscal Exchange and the 29th AFMGM+3, co-chaired by the Philippines and Japan in Samarkand, Uzbekistan. He also chaired the 2026 Asian Development Bank (ADB) Constituency Senior Officials’ Meeting (CSOM) and served as Temporary Alternate Governor for Malaysia at the ADB 59th Annual Meeting.

3 May 2026
Malaysia reaffirmed its commitment to strengthening public financial management through the Outcome-Based Budgeting (OBB) framework focusing on aligning national priorities with KPIs, enhancing coordination and leveraging MyBelanjawan for greater transparency. Efforts are further supported by ongoing collaboration with the World Bank (WB) and International Monetary Fund (IMF) alongside the implementation of the Fiscal Responsibility Act 2023 and the integration of Sustainable Development Goals (SDGs) and Gender Responsive Budgeting (GRB). In addressing demographic transition, Malaysia is advancing a multi-pronged approach, including support for senior employment, expanded Employees Provident Fund (EPF) schemes and sustainable retirement income reforms.

At the 29th AFMGM+3, ASEAN+3 Finance Ministers and Central Bank Governors underscored the region’s resilience amid global uncertainties while acknowledging downside risks from geopolitical tensions. Malaysia reiterated its commitment to strengthening regional financial safety nets through the Chiang Mai Initiative Multilateralisation (CMIM) and welcomed ASEAN+3 Macroeconomic Research Organisation’s (AMRO) continued progress. Looking ahead, priorities include expanding the Asian Bond Markets Initiative (ABMI) into the Asian Bond and Financial Markets Initiative (ABFMI), advancing the Disaster Risk Financing Roadmap 2026–2028 with ADB as permanent secretariat and strengthening cross-border digital payments and regulatory approaches for emerging innovations.

Read full Joint Statement of 29th AFMGM+3

As Chair for ADB CSOM, TKSP(D) moderated discussions on strengthening sustainability standards through the new Environmental and Social Framework and enhancing value-for-money outcomes under the ADB Procurement Reform. A key milestone was the signing of the New Rotation Agreement for 2027–2039 ensuring continued stability in constituency governance.

4 May 2026
At the ADB 59th Annual Meeting, Malaysia expressed strong support for ADB’s strategic direction in advancing inclusive, resilient and sustainable development including mobilising private capital, strengthening regional connectivity, accelerating climate action and advancing digital transformation with robust governance and cybersecurity safeguards.

5 May 2026
At the ADB Governor’s Plenary session on “Shifting Global Value Chains, Technology, and Inclusive”, Malaysia highlighted the importance of adapting to shifting global value chains driven by digitalisation, artificial intelligence and automation. While these trends present opportunities for higher value-added growth, they also require careful management of risks including supply chain vulnerabilities and pressures on SMEs. In line with the New Industrial Master Plan (NIMP) 2030, Malaysia continues to prioritise diversification, digitalisation and strengthened regional cooperation to build resilience and ensure inclusive growth.