The 59th Annual Meeting of the Asian Development Bank concluded in Samarkand with new renewable energy agreements, discussions on economic resilience and the release of a major policy report on global value chains.
One of the key developments on the final day was the signing of a $116 million financing agreement between the Asian Development Bank (ADB) and ACWA Power for the construction of the 300-megawatt Bash-2 wind power project in Uzbekistan’s Bukhara region.
The financing package includes support from the ADB, commercial lenders and the Leading Asia’s Private Infrastructure Fund 2 (LEAP 2).
The project will comprise 39 wind turbines, transmission infrastructure and a new substation connected to Uzbekistan’s national power grid. According to the ADB, the initiative is expected to strengthen the country’s renewable energy capacity, improve energy security and support its transition towards low-carbon energy generation.
ADB representatives also noted that the Bank’s renewable energy portfolio in Uzbekistan now exceeds 2 gigawatts of supported capacity, including wind, solar and battery energy storage projects.
The project is expected to create at least 800 jobs during construction, alongside additional permanent roles during operation.
The Asian Development Bank also presented its Asian Development Policy Report 2026, titled “Global Value Chains and Inclusive Development.”
The report highlighted that deeper regional integration has helped economies across Asia and the Pacific generate growth, create jobs and reduce poverty over recent decades.
At the same time, the ADB warned that geopolitical tensions, supply chain disruptions and rapid technological shifts continue to pose risks for developing economies, particularly those less integrated into global production networks.
ADB Chief Economist Albert Park noted that improving infrastructure, logistics and the business environment would be essential to increase competitiveness and help developing economies benefit from global trade and emerging technologies.
The report also stressed the importance of resilient supply chains, environmental sustainability and greater inclusion for small and medium-sized enterprises.
The annual meeting concluded with an official handover ceremony announcing that the 60th Annual Meeting of the Asian Development Bank will be hosted in Aichi-Nagoya, Japan, from 2 to 5 March 2027.
The U.S. military has said it carried out defensive strikes in southern Iran after boats were seen laying mines in the Strait of Hormuz. Meanwhile, U...
The new AnewZ documentary, TARGET: Yerevan, builds its explosive case on exclusive, secret recordings originally published by Minval Politika. ...
Tehran has sent a senior delegation to Qatar for indirect talks on a possible peace deal with Washington amid rising tensions following a U.S. air str...
On 15 May 2026, an Ebola outbreak was officially declared in north-eastern Democratic Republic of Congo, the country’s 17th since the virus was firs...
As climate pressures and urbanisation accelerate worldwide, governments are increasingly investing in smart cities and villages to build more sustaina...
The U.S. military has said it carried out defensive strikes in southern Iran after boats were seen laying mines in the Strait of Hormuz. Meanwhile, U.S. Secretary of State Marco Rubio said peace talks could drag out for several more days while the language of a deal is finalised.
The new AnewZ documentary, TARGET: Yerevan, builds its explosive case on exclusive, secret recordings originally published by Minval Politika.
Tehran has sent a senior delegation to Qatar for indirect talks on a possible peace deal with Washington amid rising tensions following a U.S. air strike on an Iranian island in the Strait of Hormuz.
Japan and the United Nations Development Programme are launching a $3 million environmental project in Kazakhstan to support the Caspian Sea and improve water monitoring, amid growing concern over falling sea levels and risks to regional trade routes.
A peace agreement between Washington and Tehran is yet to materialise, with U.S. President Donald Trump saying that negotiations are incomplete and an Iranian Foreign Ministry Spokesman saying that a deal isn't imminent.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 26 May, covering the latest developments you need to know.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 25th May, covering the latest developments you need to know.
The World Health Organization warned on Monday that the fast-moving Ebola outbreak in the Democratic Republic of the Congo and Uganda was outpacing response efforts, with 220 suspected deaths reported so far.
Shortly after nine o’clock on Tuesday morning (26 May), a sleek white train eased into Tbilisi’s central railway station, a couple of minutes behind schedule, carrying passengers from Baku for the first time since 2020.
Tehran has sent a senior delegation to Qatar for indirect talks on a possible peace deal with Washington amid rising tensions following a U.S. air strike on an Iranian island in the Strait of Hormuz.
Japan and the United Nations Development Programme are launching a $3 million environmental project in Kazakhstan to support the Caspian Sea and improve water monitoring, amid growing concern over falling sea levels and risks to regional trade routes.
Afghanistan has received a new $31.34 million disaster preparedness package and 320 tonnes of food aid from Uzbekistan ahead of Eid al-Adha.
A Palestinian shepherd says her family’s Eid al-Adha preparations were destroyed after dozens of sheep were allegedly stolen in a pre-dawn raid in the West Bank, leaving her without both a religious sacrifice and her family’s main source of income.
Armenia’s upcoming elections are emerging as a defining geopolitical test, amid growing debate over the country’s future direction between Russia and the West, rising regional pressure, energy dependence concerns and shifting security alliances.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment