The 59th Annual Meeting of the Asian Development Bank (ADB), held from May 3 to 6 in Samarkand, Uzbekistan, opened with a strong call for deeper regional cooperation, as ADB President Masato Kanda urged Asia and the Pacific to move beyond fragmented approaches and build a more connected and resilient future. Speaking at the opening session and subsequent press conference, the president warned that the region is facing a new era of interconnected crises, where shocks, particularly from the on-going Middle East conflict, are spreading rapidly through energy markets, supply chains, and financial systems. “What we are seeing is not only a security crisis, but a stress test of the global order," he said, noting that rising costs in fuel, food, and transport are placing increasing pressure on vulnerable economies. He stressed that traditional and isolated development models are no longer effective in such an environment. Instead, countries must work together to develop integrated systems that can withstand disruptions and sustain long-term growth. “To survive and thrive in this new era, we must build deeply connected and resilient systems,” Kanda emphasized.

A central highlight of his remarks was ADB’s expanded financial commitment to the region. The bank provided 29.3 billion USD in support in the past year and is now mobilizing a 70 billion USD investment program through 2035. This includes 50 billion USD dedicated to the development of a Pan-Asia Power Grid, aimed at connecting national energy systems, scaling up cross-border electricity trade, and accelerating renewable energy integration. In parallel, ADB is launching a 20 billion USD Asia-Pacific Digital Highway initiative to strengthen digital connectivity across the region. The program will invest in fiber networks, submarine cables, data centers, and internet exchange infrastructure, aiming to reach 650 million people by 2035. Of these, around 200 million are expected to gain broadband access for the first time, while 450 million will benefit from faster and more reliable connections. He added that the bank will continue to support its members through immediate crisis response tools, including trade and supply chain financing, budget support, and longer-term resilience programs.

In addition to ADB leadership, the host country also played a central role in setting the tone of the meeting. Shavkat Mirziyoyev, President of Uzbekistan, addressed the opening ceremony of the 59th Annual Meeting, underscoring Uzbekistan’s commitment to strengthening regional cooperation and connectivity.

As host, Uzbekistan positioned the forum as a key platform to advance dialogue on economic development, green transition, digitalization, and investment across Asia and the Pacific. In his remarks, Shavkat Mirziyoyev highlighted the importance of expanding regional partnerships, improving infrastructure links, and fostering sustainable growth through closer cooperation among countries. He also emphasized that the meeting in Samarkand, historically a major hub along the Silk Road, symbolizes a renewed effort to reconnect the region through modern economic corridors and shared development initiatives. The meeting, held under the theme “Cross-roads of Progress: Advancing the Region’s Connected Future,” has brought together nearly 5,000 participants, including over 3,000 official delegates such as finance ministers, central bank governors, business leaders, and development partners from ADB’s 69 member countries. Hosted at the Silk Road Samarkand complex, the annual gathering serves as a major platform to discuss solutions in regional connectivity, digital transformation, and sustainable development financing. Mongolia is among the countries actively engaging in the discussions. B.Khulan, Deputy Minister of Finance, participated in the ADB seminar titled “CAREC–ASEAN Pathways and Lessons for the Region,” where experts examined ways to strengthen regional capital markets and mobilize investment for sustainable development. The session highlighted ADB’s initiative to establish a more structured and cooperative framework for capital market development within the Central Asia Regional Economic Cooperation (CAREC) program. Discussions focused on institutionalizing the CAREC Capital Markets Development Forum, improving regulatory harmonization, and developing key tools such as a regional roadmap, sustainable finance taxonomy, and shared data platforms.

Participants also drew lessons from the ASEAN Capital Markets Forum and Japan’s leadership in sustainable finance, emphasizing the importance of policy alignment and cross-border collaboration to attract investment, particularly for green infrastructure and climate-related projects. Strengthening private sector participation and expanding access to financing for small and medium-sized enterprises were also identified as key priorities. As Asia and the Pacific stand at what Masato Kanda described as a “new crossroads,” this year’s ADB Annual Meeting underscores a clear direction that the region’s future growth will depend not only on national efforts, but on its ability to connect, cooperate, and invest collectively in shared systems that drive resilience and inclusive prosperity.

Published Date:2026-05-13