The Asian Development Bank (ADB) has approved a plan to scale up its operations by 50% over the next decade, leveraging its existing capital base to enhance bank’s impact across Asia and the Pacific.
ADB’s Capital Utilization Plan (CUP) outlines a pathway for increasing ADB’s annual financing commitments from $24 billion in 2024 to exceed $36 billion by 2034. This expanded financing will bolster ADB’s developing member countries’ (DMCs) efforts to address critical development priorities in the region, - said in the Bank’s press-release.
“By utilizing our enhanced lending capacity, the CUP enables us to make strategic investments to address complex challenges while raising the quality and effectiveness of our operations across the region,” - said ADB President Masatsugu Asakawa.
Over the next decade, ADB’s net income is expected to grow steadily. The Bank plans to strategically invest part of this income to assist DMCs in developing high-quality, bankable projects and mobilizing sustainable finance through capital markets. New initiatives include a borrowing facility with both financial and non-financial incentives to promote investments in resilience and sustainability, as well as more flexible instruments to enhance project preparation, according to the press-release.
These initiatives include increasing the share of climate finance to 50% of total commitments and reaching total private sector financing of $13 billion, from both ADB's own financing and direct mobilization, for the year 2030.
In a significant development toward de-escalating the ongoing war, Russia on Monday formally presented Ukraine with a comprehensive peace proposal, outlining steps for a full ceasefire and a long-term peace agreement, according to Vladimir Medinsky, head of the Russian delegation.
On June 3, Baku will host an international scientific conference entitled "Imperial Structure: Colonial Ideologies and Realities."
EU climate advisers are urging the bloc to stay firm on its 2040 climate target, warning that shortcuts could jeopardize long-term progress.
Turkish President Recep Tayyip Erdogan has emphasized that deepening energy cooperation between Türkiye and Azerbaijan is not only advancing mutual interests but also reinforcing energy security for Europe and the wider region, as geopolitical risks continue to test global supply chains.
On May 28, the inauguration ceremony of Lachin International Airport was held.
A car drove into crowds of Liverpool fans celebrating the club’s Premier League title in the city centre on Monday evening, injuring dozens including 4 children. A 53-year-old man believed to be the driver was arrested at the scene.
Taxi drivers across France are protesting government plans to cut payments for driving patients to medical appointments. These cuts are part of a broader effort by Prime Minister François Bayrou to save €40 billion in the 2026 budget and reduce the country’s large deficit.
EU ministers have greenlit a massive €150 billion defense investment fund—dubbed the Security Action for Europe (SAFE)—as the bloc ramps up its military readiness in response to Russia’s aggression and growing uncertainty over U.S. security guarantees.
Brazil’s economy is expected to have regained momentum in the first quarter of 2025, driven by a surge in household spending and private investment, according to a Reuters poll of economists conducted from May 21–26.
Azerbaijan’s state oil company SOCAR and Canada’s Gran Tierra Energy Inc. have signed a memorandum of understanding (MoU) to conduct joint research focused on the technical and economic assessment of a project to explore, develop, and produce hydrocarbon resources in the Guba-Caspian region.
The Food and Agriculture Organization of the United Nations (FAO) has warned that, without immediate and sustained support, thousands of rural households in Ukraine may be unable to plant or harvest on schedule—threatening both national food security and rural livelihoods.
Tesla’s new car registrations in Norway jumped by 213% year-on-year in May, reaching 2,600 vehicles, boosted by strong demand for the revamped Model Y SUV.
Switzerland’s economy outperformed expectations in Q1 2025, driven by a surge in exports to the United States and strong growth in the chemical and pharmaceutical sectors.
Russian stocks and the ruble fell as investors reacted cautiously to upcoming negotiations between Russia and Ukraine in Istanbul.
In a significant development toward de-escalating the ongoing war, Russia on Monday formally presented Ukraine with a comprehensive peace proposal, outlining steps for a full ceasefire and a long-term peace agreement, according to Vladimir Medinsky, head of the Russian delegation.
On June 3, Baku will host an international scientific conference entitled "Imperial Structure: Colonial Ideologies and Realities."
EU climate advisers are urging the bloc to stay firm on its 2040 climate target, warning that shortcuts could jeopardize long-term progress.
Turkish President Recep Tayyip Erdogan has emphasized that deepening energy cooperation between Türkiye and Azerbaijan is not only advancing mutual interests but also reinforcing energy security for Europe and the wider region, as geopolitical risks continue to test global supply chains.
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